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As the stock market plummeted on Monday, Fox Business anchor Charles Payne sharply criticized the economic policies enacted by the Biden-Harris administration.
On Monday, nearly $2 trillion was wiped out of the S&P 500 at market open. Investor anxiety over a looming global recession triggered a selloff that sent U.S. stock futures plummeting and raised urgent questions about the Biden-Harris administration’s economic policies.
Payne said President Joe Biden’s administration policies directly resulted in the current global market downfall.
Payne said on Fox News’ “America’s Newsroom, “I just wanted to say, that statement from the Harris White House…or from Harris is really intriguing about Trump ‘almost bring us’ to a recession.”
“We were in a recession under President Trump, but it was because of COVID. Here’s the thing though. The actions that were take led us to the shortest recession in history.”
“This is a different type of recession that we are on the cusp of right now.”
“This is not because of a once-in-a-century element that no one saw coming and had to lock down an entire global economy. This is because of policies that triggered 40-year high inflation that have now taken a massive toll on the economy.”
Watch:
‘It’s Nuts!’: Fox Business’ Charles Payne Unloads on Biden-Harris Admin’s Economic Policies As Market Tanks pic.twitter.com/ah6tE4T18U
— Daily Caller (@DailyCaller) August 5, 2024
Payne also had harsh words for the Federal Reserve, under the leadership of Chairman Jerome Powell, for its monetary policy decisions.
“The main focus here was all the money that not only did Biden and Harris pump into the economy that continue to gush in. And ironically they brag about things like the Inflation Reduction Act. That’s stoking inflation!”
“They brag about all the money they’re giving the world, to the richest corporations, to build factories here. Well, guess what? We gave $8.5 billion to Intel and you know what we got in return? They’re gonna get rid of 15,000 workers.”
“Is that smart? Is that really brilliant? Is that what should really be done with taxpayer money, stoking inflation and losing jobs? It’s nuts!”
“What you’re seeing right now in the stock market is what Americans have been feeling for the past three years. It’s just a manifestation of it right now,” Payne continued.
Watch:
Charles Payne: “Ironically, they brag about things like the ‘Inflation Reduction Act’ — that’s stoking inflation…what you’re seeing right now in the stock market is what Americans have been feeling for the last three years. It’s just a manifestation of it right now.” pic.twitter.com/syTU8APPAm
— MAGA War Room (@MAGAIncWarRoom) August 5, 2024
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