In a tweet that he pinned to the top of his Twitter feed, Anthony Scaramucci says he “made a mistake” supporting President Donald Trump. The tweet links to an August op-ed Scaramucci wrote about the White House for The Washington Post.
But it seems the broader market is still enthusiastic about many of the president’s economic and trade policies.
Stocks are close to all-time highs, despite concerns about tariffs and a generally chaotic atmosphere in the White House — a situation that Scaramucci briefly participated in firsthand in his 11 days as Trump’s communications director before his firing July 2017.
Scaramucci has since returned to SkyBridge Capital, the alternative investing firm he founded, where he is co-managing partner. In the past few weeks, he’s stepped up his attacks against his former boss.
When discussing the president’s comments about being “locked and loaded” following an attack on Saudi oil fields, Scaramucci told CNN’s John Berman last week that Trump has “a “predictable level of irrationality.”
He also said in a recent interview with CNN’s Anderson Cooper that Trump has low self-esteem and is “tearing at the fabric of the American social society.” And he even went so far as to tell CNN’s Alisyn Camerota on “New Day” earlier this month that the president is in “full Chernobyl meltdown mania.”
Of course, it’s worth noting that Scaramucci may have an ax to grind. He was famously fired after less than two weeks in Washington, after launching an expletive-laced tirade in an interview with the New Yorker in which he bashed fellow members of the Trump administration.
Still, he raises some valid concerns about Trump’s mercurial nature in the Washington Post op-ed.
Scaramucci said he’s concerned that Trump’s “lack of tact in trade negotiations with China now threatens to cause a recession” even though he also noted that Trump’s “pro-business governance has driven unemployment to record lows for almost every segment of the population and boosted wage growth.”
But he worries that the negatives from the trade war will outweigh other positive signs in the economy. He said in an appearance on CNBC last month that business leaders aren’t sure what to expect from Trump.
“Here’s the problem: We don’t know where things are going, and US corporate CEOs, large and small, are slowing down business investments,” Scaramucci said.
Scaramucci has also taken issue with President Trump’s frequent Twitter attacks on Federal Reserve chairman Jerome Powell, even as the Fed has lowered interest rates. Trump has pushed for even bigger rate cuts.
“I’m not in love with the public rebuke of the Federal Reserve chairman, where we’ve had 106 years of relative Fed independence,” Scaramucci said on a panel at SkyBridge’s SALT Conference in Las Vegas in May.
Scaramucci will discuss this on the CNN Business “Markets Now” live show Wednesday at 12:45 pm ET.
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