05 FEB

White House downplays worries about stock market plunge, says ‘the fundamentals of this economy are very strong’

Michael Nagle/Getty Images

White House Deputy Press Secretary Raj Shah played down concern over the stock market’s intense sell-off.
Shah told reporters “markets do fluctuate” and “the fundamentals of this economy are very strong.”

White House officials are downplaying the recent chaos in the stock market, saying its a short-term wobble and the US economy remains resilient.

“Look, markets do fluctuate in the short term,” said White House Deputy Press Secretary Raj Shah. “We all know that. And they do that for number of reasons. But the fundamentals of this economy are very strong and they’re headed in the right direction — for the middle class, in particular.”

See the rest of the story at Business Insider

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