Donald TrumpDonald TrumpMcCabe wins back full FBI pension after being fired under Trump Biden's Supreme Court reform study panel notes 'considerable' risks to court expansion Bennie Thompson not ruling out subpoenaing Trump MORE suggested Tuesday that Americans should not place their retirement funds into the stock market, warning of “some very scary scenarios.”
In a phone interview with Fox Business, the GOP presidential nominee said that he isn’t a big investor in the stock market, and advised Americans to steer clear of the market as well when considering where to put their 401(k) funds.
“I don’t like a lot of things that I see. I don’t like a lot of the signs that I’m seeing,” he said. “You have some very scary scenarios. The only reason the stock market is where it is is because you get free money.”
Trump argued that the Federal Reserve is keeping interest rates artificially low, thereby boosting the market. But he cautioned that if rates were to rise to a more normal level, it could lead to market pain. He added that he was in the stock market for a while, but isn’t a major investor in equities anymore.
“I did invest, and I got out, and it was actually very good timing,” he said. “I’ve never been a big investor in the stock market.”
He highlighted his ongoing concerns with the nation’s immigration policies to bolster his case against the market, in addition to the Fed’s interest rate policies.
But despite that concern, he did see one way in which he would be optimistic for the stock market: if he wins the White House. Trump predicted a market boon if he wins in November.
“I think it’s going to go great,” he said. “I built tremendous wealth for myself. I built a tremendous company with some of the greatest assets in the world.”