On Wednesday, President Trump blamed the Federal Reserve for hurting the economy. On Thursday, he blamed the media.
“The Fake News Media is doing everything they can to crash the economy because they think that will be bad for me and my re-election,” Mr. Trump tweeted from his golf club in Bedminster, New Jersey. He added, “The problem they have is that the economy is way too strong and we will soon be winning big on Trade, and everyone knows that, including China!”
Retail sales rose a robust 0.7 percent in July, the Commerce Department reported Thursday.
Meanwhile, U.S. manufacturing output fell 0.4 percent last month, the Federal Reserve reported.
Markets were up slightly on the reports at midday, after suffering their biggest losses of the year on Tuesday.
“The United States is now, by far, the Biggest, Strongest and Most Powerful Economy in the World, it is not even close!” Mr. Trump tweeted. “As others falter, we will only get stronger. Consumers are in the best shape ever, plenty of cash. Business Optimism is at an All Time High!”
CNBC “Mad Money” host Jim Cramer said the media should “dial back the hysteria” about Wednesday’s market losses. He noted that the Dow Jones Industrial average is up about 9% from the same point last year, with other markets even higher.
“People should recognize things are not as horrible as, let’s say, the media is making it out to be,” Mr. Cramer said on NBC’s “Today” show.
The president also highlighted The New York Times’ decision to demote its deputy Washington editor, Jonathan Weisman, for what the paper called “serious lapses in judgment” on social media.
Mr. Trump said Mr. Weisman “should have been fired!”
“Totally biased and inaccurate reporting,” Mr. Trump tweeted. “The paper is a Fraud, Zero Credibility. Fake News takes another hit, but this time a big one!”
Last month, Mr. Weisman deleted a tweet after he suggested that Democratic Reps. Rashida Tlaib of Michigan and Ilhan Omar of Minnesota were not truly from the Midwest, and that Democratic Rep. John Lewis of Georgia was not from the Deep South. The tweets were considered racist by many.
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