White House has no regrets about touting economy despite swings

Monday's one-day tumble was the Dow's biggest since 2011

President Donald Trump on Monday boasted that the economy is roaring under his presidency during remarks at an OH manufacturing company, linking economic gains to his policies and the tax cut legislation he signed into law. "And right now, for the first time in a long time.factories are coming back, everything's coming back".

On Monday, a plunge of over 1,100 points in the Dow Jones industrial average capped two days of losses that have erased the stock market's gains for the year. Until now, Trump's had kind of a free ride in this market and taken so much credit for it, even though so much of it was due to easy-money policies from Janet Yellen and the Fed. "But the fundamentals of this economy are very strong".

"Obviously the president did tout the stock market, but I would hardly say that he focused on it", Gidley said.

"This president and this White House are focused on long-term economic fundamentals which are strong", White House Deputy press secretary Raj Shah said on Fox Business Network.

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"The President's tax cuts and regulatory reforms will further enhance the USA economy and continue to increase prosperity for the American people", she added. And he didn't allow the stock market slide to dampen his remarks.

"Now I understand that's big news, but where were they when it was going up?"

Gidley also claimed that while four major news networks "went wall to wall" covering the huge market drops on Monday, they never covered the steep increases over the past year.

News networks, many of which had been airing a Trump speech live from OH where the president had gone to promote the Republican tax reform plan, interrupted the programming to break the news.

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