Trump Says US Stocks Hit 91st Record High in Less Than Two Years, 401(k) Balances Surge
Summary
- Trump said the US stock market hit its 91st record high in less than two years.
- He said balances in Americans' retirement accounts are rising sharply.
- He also said balances in 401(k) accounts, the leading defined-contribution retirement plan in the US, are surging.
Forecast Trend Report by Period
President Donald Trump said the US stock market has reached its 91st record high in less than two years, adding that balances in Americans' retirement accounts have also risen sharply.
Cointelegraph, a cryptocurrency-focused media outlet, reported on November 4 that Trump cited the market's rally and said, "The US stock market hit its 91st all-time high in less than two years."
He also claimed that balances in Americans' 401(k) retirement accounts are surging.
A 401(k) is the leading defined-contribution retirement plan in the US, with account balances rising or falling based on the performance of investments selected by participants. Trump did not provide specific figures for the increase in retirement account balances.
JH Kim
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