Trump rings Wall Street opening bell from Oval Office to celebrate launch of Trump Accounts
US President Donald Trump on Monday ceremonially rang the opening bell for both the New York Stock Exchange and the Nasdaq from the Oval Office
US President Donald Trump on Monday ceremonially rang the opening bell for both the New York Stock Exchange and the Nasdaq from the Oval Office to mark the launch of Trump Accounts, a new investment programme designed for American children. Calling the initiative a major step toward building long-term wealth, Trump said the accounts would grow alongside what he described as a booming US economy.
"With the ringing of the opening bell for the stock market, those accounts will now begin to grow right along with our booming economy, and I really believe we're going to have the biggest boom of all right now," Trump said during the event. The president also announced that approximately $800 million would be invested this week through a combination of government seed funding and private contributions.
"You haven't seen anything yet. Between individual contributions and the seed funds, $800 million in new capital will be invested in the stock market for America's children this week," Trump said. The launch of Trump Accounts is aimed at encouraging long-term investing for children by allowing funds to be invested in the stock market from an early age.
The administration says the programme combines seed funding with voluntary private contributions to help families build wealth over time.
The BriefWire