President Joe Biden has recently been unable to resist the temptation of touting the stock market highs, a practice he had previously criticized during the Trump era. Last week, the Dow Jones Industrial Average closed above 40,000 for the first time ever, prompting a flurry of commentary from the Biden administration. White House Press Secretary Karine Jean-Pierre acknowledged that the record stock market highs under President Biden are beneficial for retirement accounts and household wealth. However, market experts caution that market fluctuations are not entirely dependent on the president’s policies. Despite Biden’s initial reluctance to focus on stock market performance, he has now joined the ranks of past presidents in emphasizing market milestones. As the 2024 election approaches, both Biden and his opponent, Donald Trump, are expected to continue commenting on market trends, making it a key talking point in the upcoming campaign.
Vocabulary List:
- Touting (verb): Attempting to promote or sell.
- Flurry (noun): A suddenbrief period of intense activity or excitement.
- Criticized (verb): Expressing disapproval or negative judgment.
- Beneficial (adjective): Producing good results or advantages helpful.
- Reluctance (noun): Unwillingness or hesitation to do something.
- Emphasizing (verb): Giving special importance or prominence to something in speaking or writing.
