Trump warns of 'market crash' if he loses in 2020

President TrumpDonald TrumpVeteran accused in alleged border wall scheme faces new charges Arizona Republicans to brush off DOJ concern about election audit FEC drops investigation into Trump hush money payments MORE asserted on Saturday there would be dire economic consequences should he lose the 2020 presidential race, leaning into his reelection slogan, "Keep America Great."

“The Trump Economy is setting records, and has a long way up to go....However, if anyone but me takes over in 2020 (I know the competition very well), there will be a Market Crash the likes of which has not been seen before! KEEP AMERICA GREAT,” he tweeted. 

Trump has leveraged a strong economy to help boost him in the 2020 race, though polling shows him trailing former Vice President Joe BidenJoe BidenAtlanta mayor won't run for reelection South Carolina governor to end pandemic unemployment benefits in June Airplane pollution set to soar with post-pandemic travel boom MORE, Sen. Bernie SandersBernie SandersSanders on Cheney drama: GOP is an 'anti-democratic cult' Briahna Joy Gray: Biden campaign promises will struggle if Republicans win back Congress Biden backs COVID-19 vaccine patent waivers MORE (I-Vt.), Sen. Kamala HarrisKamala HarrisHarris's uncle discusses COVID-19 surge in India: 'The conditions are pretty bad' Updating the aging infrastructure in Historically Black Colleges and Universities Bowser on Manchin's DC statehood stance: He's 'not right' MORE (D-Calif.) and other Democrats in a handful of crucial swing states.


Several Democratic contenders have put forth plans to reduce income inequality and say that other platforms will be paid for in part by revoking Trump’s tax cut plan that was passed in 2017.

The White House often touts record-low unemployment rates and strong job growth, but economists fear the administration’s multifront trade war could take a bite out of any economic gains.

A top Federal Reserve official said earlier this month that the central bank may be forced to cut interest rates this year if economic growth slows and inflation remains low, noting that the economy “is expected to grow more slowly going forward, with some risk that the slowdown could be sharper than expected due to ongoing global trade regime uncertainty.”

The White House has maintained that tariffs are an effective tool to combat historical trade imbalances, though the levies are often ultimately paid by American consumers who buy foreign products.

Trump escalated his criticism of Federal Reserve Chairman Jerome Powell over previous rate hikes in an interview broadcast Friday, saying he has "waited long enough" for the Fed to cut interest rates.