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.

Articles You May Like

Looming $2.7 billion Pell Grant shortfall poses a new threat for college aid
Consumer Financial Protection Bureau staff told to work remotely as headquarters is shuttered
Coca-Cola sales easily top estimates as global demand rises
Zelle payments top $1 trillion in 2024 as network’s growth outpaces rivals including PayPal
Barclays shares sink 6% despite fourth-quarter profit hike as 2025 guidance fails to impress

Leave a Reply

Your email address will not be published. Required fields are marked *