Biden administration watching stock market closely as equities drop, spokeswoman says


The Biden administration is watching the stock market SPX, -1.72% and other indicators closely as equities tumbled on Friday, a White House spokeswoman said. “The stock market, as you’ve heard us say many times, is just one measure of the economy,” said press secretary Karine Jean-Pierre. “We are watching, always watching, these different indicators closely, including the stock market,” she told reporters at a daily briefing. Jean-Pierre added that laws signed by Biden including the Inflation Reduction Act are designed to ensure that “we don’t leave anybody behind.”

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