President Donald Trump on Wednesday touted a V-shaped economic recovery despite the ongoing coronavirus pandemic in the United States.
The president spoke about the underlying strength of the economy shortly after former Vice President Joe Biden and his running mate, Sen. Kamala Harris (D-CA), appeared together on the ticket for the first time.
Trump shared charts at a White House press conference showing positive economic news with the media.
“We had to turn off the economy. Now we are turning it back on, and that’s going to be very strong,” he said.
The president first spoke about the strength of the stock market.
“The stock market rebound signals a v-shape recovery,” he said. “Stronger than our competitors anywhere in the world.”
The president also pointed to a jobs “boom” generating over nine million jobs in the last three months.
Manufacturing, he said was also experiencing a boom in production, the highest since October 2018.
The president recalled former President Barack Obama’s comment suggesting that a “magic wand” was required to bring manufacturing jobs back to America.
“You don’t need a magic wand,” he said. “You need competence and capability.”
He also touted the boost in the housing market and demand for automobiles.