very proud of our stock market, what s happened since i became president. the stock market hit today 23,000. that s an all time record high. congratulations to everybody in our country. let s talk about what we just witnessed today. stephanie ruhle is in scientific tonight. she s the host at the 9:00 a.m. hour here, and for good measure comes back at 11:00 every day. she was a veteran of the investment banking world before television. and here with us a white house reporter for the associated press and an msnbc political analyst. stephanie, if you re going to own it as much as you have on the way up, you got to own the downturn and the bad days and the record drop that happened today. which is why no other administration would do such a thing. if you re going to live by the sword, you die by the sword. for the president there in that to say no one ever talks about the stock market, that s nonsense. the president and the
stephanie, if you re going to own it as much as you have on the way up, you got to own the downturn and the bad days and the record drop that happened today. which is why no other administration would do such a thing. if you re going to live by the sword, you die by the sword. for the president there in that to say no one ever talks about the stock market, that s nonsense. the president and the administration talk about i every chance they can. and also the media covers it. but the reason it s so risky is that markets are irrational. the obama administration very rarely talked about the markets because they understood this. remember, janet yellen just left her seat last week, and she was the fed chair. we had very positive, easy money economic policy. and you have to put into perspective the fear of missing out we ve seen in the markets over the last year. president trump has had probusiness policies. deregulation, the market likes that. we re at full unemployment, but
rates. makes the stock market look a little less attractive. some of it might ve been the machines taking over. at a certain point when the market drops enough, they have algorithms that kick in and that could have exacerbated it. i think the important point is that the economy itself is still very strong. and a gift to the lack of wisdom of the president using the stock market as an indicator of the health. bret: sometimes politicians often try to stay away from using the market because of just this reason. that said, if you think about it that sometimes the increase of confidence in an economy can actually cause some fear about what the fed is going to do as far as interest rates. i think a lot of people are concerned about that and i agree completely with the point that kimberly made. you live by the sword, you die by the sword. you put it out there is the single greatest indicator of your economic prowess, then when you take a hit, the stock market
is playing some role in the market jiters. maybe it s playing no role. and i think that s why it s so dangerous for president trump to have taken all this credit for the stock market because he s effectively suggested that he can control the market. and not even a president can understand or control the stock market. ali velshi in his hand-off, i don t know if you heard him say this, he said live by the sword, die by the sword. yep. but it seems like he s made his bed, he s going to have to lie about. i think the topic he tweets about most often is the trump economy, and i have to say from interviewing voters this is the thing that voters give him the most credit for. do you think there will be any effort to use his twitter handle or use his influence to try to sort of put the toothpaste back in the tube when he sees what happened today? there may be. i think in the end it s probably reality that matters more than how any president describes economic reality. and so we have alw
reluctant to weigh in on the stock market. the president for his part did tweet just a short time ago, i ll read it to you. he says, thanks to the historic tax cuts that i signed into law your paychecks are going way up, your taxes are going way down, and america is once again open for business. the president was touting his tax law during that event in cincinnati. he also took that as a chance to slam democrats. again, no direct response from the president about this dip that we re seeing in the stock market. but administration officials insist look, the economy continues to move in the right direction. the unemployment rate is going down. people s paychecks are going up. and again, they stressed they believe the fundamentals of this economy are still strong. all right, kristen welker, we will watch and wait because the president really likes to tweet and comment on stock markets. he sure does. at some point i m sure somebody s going to tell him that it does seem a little disi