President Donald Trump has always taken credit for the stock boom in America since his presidency began. And as such, he has said that a “crash” would happen if he were impeached. But is one man truly to thank for America’s current growth? Would a Trump impeachment cause a crash?

Wall Street doesn’t think so.

Could a Trump Impeachment Crash the Market?

Wall Street’s argument is quite simple; one man does not hold accountability over the nearly $30 trillion US stock market. The forces which drive it are much bigger and stronger than the influence of one person—even if that one person is the president of the country.

According to Thorne Perkin, president of Papamarkou Wellner Asset Management in New York, “One man does not move the market over the long term.”

And while the economy and stock market have shown positive growth since Trump entered office—he lowered taxes and implemented fewer business regulations, the S&P 500 stock index has climbed 25% and the entire economy of America has shown a 4.1% growth in the last quarter—the long-term sustainability of a healthy economy depends on much bigger factors.

Wall Street Says

According to Wall Street pros, the stock market’s longer-term direction and health rely on the overall strength of America’s economy. Factors, such as the level of interest rates, oil prices, corporate profits, and consumer spending, are the real reasons why an economy booms.

Analysts believe that when an economy is doing well, solid growth can be expected despite political changes—stimuli such as tax cuts and low borrowing costs spur on investors.

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Trumps Ignorance

But Trump thinks otherwise. In an interview this week the president said: “I’ll tell you what, if I ever got impeached, I think the market would crash.” He went further to suggest that were it to happen, the market would deplete: “You would see numbers that you wouldn’t believe, in reverse.”

Another Wall Street analyst, Sam Stovall, chief investment strategist at CFRA, has chimed in with his opinion, which reflects Wall Street’s sentiment:

“Conversations (about crashes) may be driven by the headlines, but stock prices are driven by the bottom line.”

What do you think? Has Trump had that much of an influence on America’s boom?

Featured Image: Deposit Photos/doddis