Former President Trump slammed the Wall Street Journal and other financial industry prognosticators who predicted that Trump's economic plans would have a negative impact on the nation's fiscal future.
“President Trump, you said, there's something in the market right now called the Trump trade. Do you know what it is?” Bloomberg Editor-in-Chief John Micklethwait said Tuesday in Chicago. Pressed on President Trump during an event at the Economic Club, he said, “Trump's deal is very simple. People are betting that your policies will increase debt and increase inflation, and therefore inflation and interest rates will also rise.'' I will.”
“Are the investors wrong?” he asked.
President Trump responded, “Yes, we haven't had inflation for four years.”
Micklethwait went on to point out the expensive promises the former president made during his campaign.
“President Trump, the market is paying attention to the fact that you're making all these promises. The most recent promise was a car loan. But I've actually been very good to you, too. I spent 7 trillion. The upper estimate is 15 trillion,'' he said, adding, “Even people like the Wall Street Journal, which is not a communist organization, are criticizing you on this point. I’m holding it.”
President Trump fired back: “What does the Wall Street Journal know?”
He said he plans to meet with the publication's editors on Wednesday.
“What the Wall Street Journal says… they're wrong about everything,” the former president continued, directing his anger at Micklethwait. “So are you, by the way.”
The Chicago crowd erupted in laughter and cheers.
“You were wrong,” Trump said again.
The moderator tried to interject, saying, “You're trying to turn this into a debate,” but he kept saying it while Trump continued speaking.
“You're wrong. You've been wrong. You've been wrong on this all along,” the Republican presidential candidate continued during the event. You know, you jump into different themes.
Mr Micklethwait then tried to refocus the conversation.
The contentious exchange was one of several between Trump and Micklethwait, with Micklethwait saying the tariffs would be negative in a possible second term. At one point, he put pressure on former President Trump over his assertion that the United States would not bring about results.
The former president, who has frequently attacked the Journal, Fox News and other major media properties owned by the Murdoch family, is scheduled to appear on the cable channel Wednesday morning at a town hall event focused on women's issues.
