Former US President Donald Trump has reignited debate over his economic record by claiming credit for the Nasdaq Composite's performance during his tenure. In a recent statement, Trump boasted, "I made the stock market great again," pointing to gains under his administration.
The Numbers Behind the Claim
While the Nasdaq did see significant growth during Trump's presidency, rising approximately 85% from January 2017 to January 2021, financial analysts caution against simplistic attributions. "Market performance depends on numerous factors beyond any single administration," explains economist Scott Bessent.
Post-Presidency Market Reality
Since Trump left office, the Nasdaq has experienced both highs and lows, with notable volatility in the tech sector that dominates the index. This fluctuation challenges the notion of any president having long-term control over market movements.
Expert Perspectives
Market specialists highlight that:
- Federal Reserve policies play a greater role than presidential actions
- Global economic conditions significantly impact US markets
- Technological innovation drives much of Nasdaq's performance
The debate continues as Trump positions himself for a potential 2024 run, with economic claims likely to remain central to his campaign narrative.
