CNN forecaster Harry Enten has been vocal about Donald Trump’s historically low approval ratings since his inauguration, and now he’s back to discuss the president’s historical mishandling of the economy.
“Sometimes you look at the day-to-day, and I feel like we can get lost,” Enten told host Kate Bolduan. “So let’s take a look over the whole stretch of the Trump presidency as we approach day 100. The S&P has dropped the most under Trump for any president at this point in their presidency since the S&P 500 was in fact created back in 1957.”
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“How much did you make off of people’s despair?” she asked Greene.
“And indeed,” he continued, “it is not anywhere close, folks. It’s not anywhere close. Under Trump, it’s dropped — get this — 14 percent.” He explained that the only other president who saw a drop of 5% or more at this point in their presidency was George W. Bush in 2001, and even then it was only 7 percent.
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“So Donald Trump is on a planet all by himself,” Enten said, “a planet you do not want to be on, the American people don’t want to be on, in terms of the drop in the S&P 500 approaching 15 percent already in his presidency. No bueno.”
He also said there is “basically a 50/50 chance of a recession at this point,” which is huge considering we “weren’t anywhere near this” when Trump took office.
“The stock market is a reflection of the economic state we’re in, the chance of a recession is another reflection of the state of the economy we are in,” he explained. “The bottom line is that Trump’s tariff wars have taken what was a pretty gosh darn good economy and turned it into a very uncertain economy.”
Earlier this month, the stock market took a hit as Trump’s “reciprocal tariffs” were supposed to be implemented. The tariffs, which are taxes on imported goods and are not, in fact, reciprocal in that they are not a response to tariffs imposed on the U.S., were expected to restrict global trade and adversely affect commerce in the U.S. by driving up the price of producing goods and purchasing them.
Late on Wednesday, though, Trump announced a 90-day delay on the reciprocal tariffs (his across-the-board 10% tariffs, though, as well as reciprocal tariffs on China, are still in place), which sent the stock market skyrocketing at the end of the day.
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