President Donald Trump has a warning for Washington and Wall Street: Impeachment would tank the stock market.
“I think that if I ever got impeached, the market would crash,” Trump told Fox News in an interview that aired on Thursday. “Everybody would be very poor.”
Impeachment proceedings could very well rattle investors. Stocks could retreat from record highs. But a crash? That sounds extreme.
The American economy is strong. Corporate profits are booming, thanks in large part to Trump’s corporate tax cuts. And if even Trump were removed from office, a President Mike Pence would support the same pro-business policies — although maybe without the trade wars and turmoil.
“Trump isn’t irreplaceable. I don’t think the market would crash,” said Ed Yardeni, president of investment advisory Yardeni Research.
Wall Street took the latest Trump drama in stride. The market barely budged on Wednesday, even after the guilty plea by former Trump lawyer Michael Cohen and the conviction of former campaign chairman Paul Manafort.