Stock market analyst Jim Cramer gave his assessment of the Biden administration as it relates to the business world, and it was not a good one.
Cramer said that the administration was “needlessly antagonistic” to businesses, and the incoming Trump administration is likely going to be far better. Biden gave a farewell address on Wednesday just days before the inauguration of President-elect Donald Trump.
‘I think that a president should develop a good relationship with the business community.’
“Look, maybe it didn’t matter. Everything turned out to be just fine. Could it have been even better? Of course. Maybe it will be with President-elect Trump, but maybe it won’t,” said Cramer.
“Ultimately, I think that a president should develop a good relationship with the business community,” he added. “Biden was, indeed, needlessly antagonistic.”
Cramer said that business leaders told him that Biden was reluctant to meet with them, and this had a negative effect on the success of the economy during his term. Cramer defended Biden on the basis that the stock market has reached historic highs and employment is strong.
“Business is not hated in this country. It doesn’t need to be loved. But something in between? Maybe everyone would’ve done better,” Cramer added.
Americans consistently said in polling that the economy was a major concern that effected their vote in the election. Many blamed the Biden administration and Democrats for the high rates of inflation that slammed budgets and lowered standards of living.
Trump has promised to institute policies that might jumpstart the economy by cutting down on regulations and encouraging more investment into the U.S. More controversial is his plan to punish foreign countries with high tariffs. Critics say tariffs could lead to damaging trade wars.
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