“‘We have an economy that’s so fragile, and the only reason it’s running now is it’s running off the fumes of what we did — what the Trump administration [did], it’s just running off the fumes. And when there’s a crash, I hope it’s going to be during this next 12 months, because I don’t want to be Herbert Hoover.’”
That line above was spoken by former President Donald Trump in an interview with pundit Lou Dobbs that aired Monday night, as Trump continued to criticize President Joe Biden’s handling of the U.S. economy and to predict that a crash would hit markets
SPX.
Herbert Hoover was president when U.S. stocks crashed in 1929.
A spokesman for the Biden White House, Andrew Bates, blasted Trump for his comment, saying in a statement that a commander-in-chief’s duty is to “always put the American people first; never to hope that hard-working families suffer economic pain for their own political benefit.”
Related: Consumer sentiment finishes 2023 on high note as inflation wanes
Also read: Whether it amounts to an actual recession is uncertain, but U.S. is headed for a soft patch, economists say
During the 2020 White House race, Trump predicted that a Biden win would lead to “a stock-market collapse the likes of which you’ve never had.” Biden jabbed at Trump over that line last month as the Dow industrials
DJIA
hit all-time highs, saying, “Good one, Donald.”
Trump, the front-runner in the 2024 Republican presidential primary, looks on track to face off against Biden again in this year’s White House race.
Now read: Iowa GOP caucuses: The key support level for Trump to hit, and how Haley becoming the nominee looks ‘possible — just not probable’
And see: The stock market’s performance under Biden remains worse than under Obama or Trump — even with recent gains
