Tuesday, 22 April 2025

How much longer can the stock market slump?

Every day it seems to get worse. The stock market is dropping so fast it will go through the floorboards soon. But President Trump is sticking with his tariff war and is now focusing all his ire on the chairman of the US Federal Reserve, calling on him to cut interest rates. If the stock market continues to fall, Trump will blame Jerome Powell and then sack him. Something is going to have to give. The Dow Jones index fell by 1,000 points yesterday. That's staggering. The trouble is, Trump can't back down, not fully anyway, because he has set up his stall and has told everyone that it is the only way to make America great again. So far it has just been short-term suffering on a huge scale. Could it lead to long-term prosperity and jobs for everyone? This is what he is hoping but meanwhile the economic future looks grim for the average American household and for all of us. Trump's popularity is going to vanish and he could find himself under greater pressure than ever to switch tactics. Right now, he is holding firm. This gentleman is not for turning, to use the famous comment by Margaret Thatcher.

No comments:

Post a Comment