Jay Carney Claims Obama Never Boasted About Stock Market...Then Backtracks

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Posted: Feb 05, 2018 5:55 PM
Jay Carney Claims Obama Never Boasted About Stock Market...Then Backtracks

With the stock market nearing correction territory Monday, former Obama White House Press Secretary Jay Carney suggested on Twitter that President Trump should have learned something from his predecessor and be careful not to tout optimistic looking stocks. It is just too risky.

The Dow Jones plunged almost 1,600 points and essentially erased its gains for the year. It was the worst loss in six and a half years.

The Obama administration, Carney claimed on Twitter, was careful to never boast about the stock market as Trump has often done.

Except he did. A social media user screen shotted a relevant excerpt from a transcript of an interview Obama did with ABC's David Muir in 2011, where the president was happy to talk about the increased value of stocks under his watch. The transcript can be found on his archived White House website.

Perhaps being made well aware of his mistake, Carney began to backtrack. Okay, Obama did tout the stock market sometimes, but not every week.

He got called out again, and had to cover his tracks again.

Still, Monday's news was alarming for investors. White House Principal Deputy Press Secretary Raj Shah tried to subdue fears, noting that "markets do fluctuate in the short term," but the economy was still heading in the right direction.