OAN Staff Gabriella Sable
1:11 PM – Tuesday, March 11, 2025
During a press conference, White House Press Secretary Karoline Leavitt articulated that the stock market’s recent volatility reflects an economic transition away from the policies of former President Joe Biden.
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“We are in a period of transition from the mess that was created under Joe Biden in the previous administration,” Leavitt emphasized.
She sharply criticized Biden’s economic record, citing key statistics to elaborate on this fact.
“Joe Biden left this country in an economic disaster,” Leavitt argued. “The delinquency rate on credit card loans increased 63% under Joe Biden, hitting a near 12 year high under Joe Biden. All net job growth went to foreign-born Americans. Real wages declined by 1.5% under Joe Biden. ”
Leavitt highlighted the most recent jobs report, which according to Fox Business, showed 9,000 new auto manufacturing jobs, as a sign of a positive shift from the auto manufacturing jobs lost under Biden. She also noted rising small business optimism, urging Americans to put their faith in President Donald Trump.
“Small business optimism continues to be far higher than it ever was under the previous administration,” Leavitt exclaimed. “There’s a lot of reason to be optimistic, and again, the American people, CEOs and people on Wall Street and on Main Street should bet on this President.”
“He is a deal maker,” Leavitt added. “He is a businessman, and he’s doing what’s right for our country. He wants to restore wealth to the United States of America.”
Leavitt reinforced Trump’s commitment to restoring American wealth, citing two trillion dollars in new investments as proof of confidence in the U.S. economy and highlighting Apple’s $500 billion commitment over the next four years. Leavitt further underscored the surge in CEO optimism regarding President Trump’s leadership following his return to the White House.
“Look at CEO confidence according to the conference board measure of CEO confidence in Quarter 1 of 2025, under the leadership of this president, it jumped to its highest level in three years, from cautious optimism to confident optimism,” said Leavitt.
She also addressed concerns over market reactions to new tariffs, asserting that they would ultimately lead to fair trade and greater prosperity for Americans.
Leavitt defended the new additional 25% tariff Trump was putting on steel and aluminum imports from Canada, explaining it was a response to threats from Canadian officials to cut off power to U.S. consumers and add a 25% tariff on electricity.
The President posted on Truth Social earlier Tuesday, condemning Canada’s threat to cut off power and shaming them for using innocent people as leverage in the ongoing trade war.
“Can you imagine Canada stooping so low as to use ELECTRICITY, that so affects the life of innocent people, as a bargaining chip and threat,” Trump questioned. “They will pay a financial price for this so big that it will be read about in History Books for many years to come!”
Leavitt further outlined that Trump is working tirelessly to persuade skeptical Republicans in the House to support the continuing resolution, which is set to be voted on late Tuesday. The resolution would fund the government through September 2025 and deliver the tax cuts Trump campaigned on.
“He wants the American people to have so much money in their pockets that they won’t even know what to do with it. That’s the goal of this administration, and we’re working hard every day to achieve it,” Leavitt stated.
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