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Trump joked on Twitter on Friday afternoon, hedging his remarks by saying that the drop was “perhaps” because of Moulton.
“The Dow is down 573 points perhaps on the news that Representative Seth Moulton, whoever that may be, has dropped out of the 2020 Presidential Race!” Trump wrote on Friday afternoon.
The Dow is down 573 points perhaps on the news that Representative Seth Moulton, whoever that may be, has dropped out of the 2020 Presidential Race!— Donald J. Trump (@realDonaldTrump) August 23, 2019
Trump’s tweet seemed like a joke.
However, as some noted, the drop in the Dow was not because a lower-tier 2020 Democrat dropped out of the presidential race but instead because of Trump’s tweets earlier in the morning.
On Friday morning, Trump openly asked whether Federal Reserve Chairman Jerome Powell was “bigger enemy” to the United States than China.
The drop in the markets directly corresponds to the President calling the Fed Chair an enemy of the United States. pic.twitter.com/mAi0xZK7Ce— Erick Erickson (@EWErickson) August 23, 2019
“As usual, the Fed did NOTHING! It is incredible that they can “speak” without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work ‘brilliantly’ with both, and the U.S. will do great…” Trump wrote in a series of tweets. “….My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?”
As usual, the Fed did NOTHING! It is incredible that they can “speak” without knowing or asking what I am doing, which will be announced shortly. We have a very strong dollar and a very weak Fed. I will work “brilliantly” with both, and the U.S. will do great...— Donald J. Trump (@realDonaldTrump) August 23, 2019
....My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?— Donald J. Trump (@realDonaldTrump) August 23, 2019
Trump and his administration have been hammering hard on the economy in recent days, as anxiety about a potential recession has gained more steam. China also announced a new set of tariffs on the U.S. this morning.
Andrew Wyrich is a politics staff writer for the Daily Dot, covering the intersection of politics and the internet. Andrew has written for USA Today, NorthJersey.com, and other newspapers and websites. His work has been recognized by the Society of the Silurians, Investigative Reporters & Editors (IRE), and the Society of Professional Journalists (SPJ).