Dem strategist: 'Titans of Wall Street' in Trump admin inspire confidence
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A top Democratic strategist is praising key figures in the Trump administration, saying the presence of former Wall Street executives helps instill confidence in the financial markets.

Doug Schoen, a pollster and adviser to former President Bill ClintonWilliam (Bill) Jefferson ClintonAgency function is tied to how people feel about their job — that's bad news for USDA research 5 myths about William Barr Dems should follow Bill Clinton's lead on minimum wage hike MORE, said during an interview with John Catsimatidis on AM 970 in New York that Treasury Secretary Steven MnuchinSteven Terner MnuchinOn The Money: Trump teases 'major announcement' Saturday on shutdown | Fight with Dems intensifies | Pelosi accuses Trump of leaking trip to Afghanistan | Mnuchin refuses to testify on shutdown impacts The case for Russia sanctions Treasury issues final rules on key part of Trump's tax law MORE, Commerce Secretary Wilbur RossWilbur Louis RossTrump cancels delegation's trip to Davos amid shutdown Trump administration to appeal ruling against 2020 census citizenship question READ: Federal judge's ruling against Trump administration's push for 2020 census citizenship question MORE and National Economic Council chief Gary Cohn have all "helped" Trump.

"These are titans of Wall Street … It inspires confidence. If there's confidence in Wall Street, the markets go up — good for America, good for Wall Street and good for ordinary people," Schoen said.


"If we’re so afraid of Wall Street – goodness gracious, we have a plutocratic president in Washington," he added.

The Democratic strategist took a dig at Sens. Bernie SandersBernard (Bernie) SandersKamala Harris picks Baltimore as headquarters for potential 2020 campaign: report Sen. Casey says he won't run for president in 2020 Women's March plans 'Medicare for All' day of lobbying in DC MORE (I-Vt.) and Elizabeth WarrenElizabeth Ann WarrenKamala Harris picks Baltimore as headquarters for potential 2020 campaign: report Dem voters split on importance of women atop the ticket in 2020 Elizabeth Warren heading to Puerto Rico next week MORE (D-Mass.), who are outspoken critics about the need for checks on Wall Street, while calling on Democrats to embrace Wall Street.

"We need Democrats standing up for our economy, for investment and for Wall Street," he said.

"Democrats need money; they need Wall Street money," he said. "Wall Street is the engine that creates jobs. You can't create jobs by just redistributing yourself out of problems. You can't just tax the rich and expect that magic things will happen. We need to incentivize Wall Street to invest, to create jobs and to grow our economy."

His remarks came after U.S. stocks hit record closing highs on Friday, with all three market indexes extending their recent run of records, Reuters reported.

Trump on Saturday touted the climb in stock market prices since he assumed office.

"Stock Market hits another all time high on Friday. 5.3 trillion dollars up since Election. Fake News doesn't spent much time on this!" he tweeted.