Investing

Leon Cooperman: Trump pulling market gains forward by trying to boost stocks before election

Leon Cooperman

Scott Mlyn | CNBC

President Donald Trump is trying to boost stock market gains as he seeks reelection in 2020, billionaire investor Leon Cooperman told CNBC on Wednesday.

“The president is very intent on getting the stock market up,” said Cooperman, who runs Omega Advisors. “My guess is we’re doing a lot of things that are pulling demand forward.”

Trump has been calling on the Federal Reserve to cut interest rates while repeatedly criticizing central bank Chairman Jerome Powell for raising rates four times last year.

The Fed, which is expected to cut rates, is set to announce its decision at 2 p.m. ET on Wednesday. Powell then follows with his post-July policy meeting news conference at 2:30 p.m. ET.

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