Peter Navarro, a senior advisor to former President Donald Trump, on Fox Business Network’s “Sunday Morning Futures.” He spoke to the recent stability of the stock market in his interview. Rather, he referred to the steep downward slide as a “normal retracement,” following a large spike in the markets. Let me just encourage Americans to continue to have confidence in their investments.
Navarro’s comments came just as the trading day was getting underway. He firmly stressed that recent volatility should not dissuade retail investors. During the retreat he framed the slump as a natural hiccup, saying, “If you don’t sell, you don’t lose.” His message was clear: the market will rebound, and now is an opportune time for small investors to buy stocks.
On the day of his testimony, Navarro bashed his chest and proclaimed that tax reforms would boost share prices. During his confirmation hearing, he praised the extensive tax cuts for businesses and individuals proposed by the Trump administration. He thinks these initiatives will help accelerate market development. “Let me just say, ninety deals in ninety days, biggest, broadest tax cut in American history should be driving the tape,” he asserted.
Also targeted were big financial names, including JPMorgan Chase president and CEO Jamie Dimon. He said his priority was making sure that ordinary investors share in the profits of the capital markets, not just rich corporate leaders. “I’d rather mom and pop have a great portfolio than Jamie Dimon get another billion dollars,” said Navarro.
Echoing Trump and other administration officials, Navarro said that confidence in the market is key to recovery. He called on investors to fight against the fear incited by volatility in the market. He promised them that abyss would set the stage for a long-term bullish market. “America should trust in Trump. He called on the market to have faith in Trump and not rescind to panic. This is going to be so bullish!” he proclaiming.
In October, Navarro repeated Trump’s call to action for investors. Just last year, Trump called on investors to, “BE COOL! THIS IS A GREAT TIME TO BUY!!! In an uncertain world, this rhetoric builds faith that come what may, the course is set in stone. It encourages retail investors not to sell their shares during panicky downturns.
Navarro contended that millions of Americans are suffering from short-lived “paper losses” from recent declines in prices. He iterated the importance of retail investors being patient. He encouraged them to rest on their laurels and make them “sit tight” and get rid of the noise created by larger financial interests. “That’s the concern here. The little guy just needs to avoid panic and test their mettle. So don’t allow the large companies to beat you or scare you into submission.