White House: Biden does not look at stock market to judge economy

January 24, 2022 2:13 PM EST

FILE PHOTO: A Specialist Trader works inside his post on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 21, 2022. REUTERS/Brendan McDermid

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WASHINGTON (Reuters) - U.S. President Joe Biden does not look at the stock market as a way to judge the strength or weakness of the U.S. economy, White House press secretary Jen Psaki said on Monday, as markets plunged on fears of a Russian attack on Ukraine.

“Unlike his predecessor the president does not look at the stock market as a means by which to judge the economy,” Psaki said, adding the market was up 15% since Biden took office.

(Reporting by Trevor Hunnicutt, Heather Timmons and Steve Holland; Editing by Chris Reese)

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