President Trump’s administration will continue to take credit for the stock market, Treasury Secretary Steven Mnuchin said Tuesday, even with the recent volatility.
“We’ll still claim credit for the fact that it’s up over 30 percent since the election,” Mnuchin said during congressional testimony.
Mnuchin testified as stock markets gyrated wildly, after falling steeply Friday and Monday. He monitored stock prices on his phone as representatives questioned him.
Some critics have said in the past few days the Trump administration has put itself in a bad position regarding the markets, because Trump, Mnuchin, and others have previously taken credit for stock run-ups.
But Mnuchin didn’t back down Tuesday, saying that he has kept abreast of events with investors and bankers and believes that markets are still functioning properly.
“I’m not overly concerned about the market volatility,” he said. “I think the fundamentals are quite strong.”
