Stephen Moore: The Markets Want Trump

This past Thursday, President Trump accepted the nomination at the Republican National Convention, less as the incumbent, and more as the stonewalled contender that came to office in 2016. With a message directed to paint him and the GOP as the answer to fears Democrats have failed to grasp, Trump called for law and order as he made the case that he would lead Americans back to the historic gains before the pandemic.

Economist Stephen Moore told The Cats Roundtable that Trump had successfully contrasted himself from Democratic presidential nominee, Joe Biden’s, speech at the Democratic National Convention earlier this month. Moore believed the “uplifting message” of Trump’s America resonated with Americans better than the doom-and-gloom of the Democrats.

And the confidence has echoed from the unemployment line to the floors of Wall Street, with millions of jobs added in the July job report and markets climbing to where they stood pre-March. Along with the Federal Reserve announcement this past week that a new approach to inflation could keep rates low as the economy returns, Moore says this means one thing: market confidence is growing.

“The economy is getting better—and the stock market is hitting all time highs,” he told The Cats Roundtable. Combine this confidence with Trump’s reassertion of friendship with Wall Street and small businesses, Moore called this week “a good week for health, and for wealth.”

“Now, it’s basically a toss-up race, and I think that it’s being reflected in the stock market,” Moore noted. “There’s no question the stock market and small businesses want Donald Trump and not Joe Biden.”

Moore’s optimism over pessimism found a new meaning this week, as well. As he left the police barricade surrounding the White House for the President’s RNC speech, like other attendants Moore found himself caught alone amid the anti-Trump protests outside.

“I was quite frightened, frankly,” Moore reflected, before adding that the larger surge of violence across the country was a “very scary situation for the country.”

He condemned Democratic leaders for their unwillingness to condemn the violence that spills from and follows protests across the country.

“I think we need Democrat leaders to speak out more forcefully against the violent hatred that the Left has,” he told The Cats Roundtable.

But where Democrats are quiet, Trump used his platform this past week to speak about the fear stoking in many communities across the U.S. Moore agreed with the President’s promise that he would keep Americans and American businesses safe.

“I think Trump is right. If we don’t do something about the violence, it’s going to come to neighborhoods all over the country, and I think that makes people nervous,” Moore warned.

Public safety may be one of the number one issues to Americans in this election, but Moore believes that others are ignored by the headlines.

Moore warned against the Democrats’ desire to increase taxes, increase regulation, and compromise Trump-era energy policies. Moore worried that the reinstatement of top-down tax policies will gut small businesses already hurting from the pandemic, while handcuffing bigger companies from hiring more workers and building their businesses in the U.S.

“Right now it’s a coin flip,” Moore admitted. “It depends on which of these two candidates outperforms the other in the weeks ahead.”

Listen to the interview below

 

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