President Donald J. Trump: America at 250 7/3/26

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**Joe Kernen** (1:01)
Hey, Squawk Pod listeners, it's Joe Kernen at the White House in Washington, DC. For America's 250th birthday, I'm bringing you an interview with our 45th and 47th president, Donald J. Trump.
Mr. President, it's great to see you.

**Donald J. Trump** (1:17)
Thank you.

**Joe Kernen** (1:17)
Thank you for having me in this incredible place and happy-

**Donald J. Trump** (1:21)
It's a nice place.

**Joe Kernen** (1:21)
Happy Independence Day and happy Semi-Quin Centennial. Yeah, that's true. If I got that right.

**Donald J. Trump** (1:28)
Thank you.

**Joe Kernen** (1:29)
250 years, and I just want to start flying at about 40,000 feet, and just what you've done in pretty nice playing lately, by the way, I saw that. What's so amazing about this country, in your words for the last 250 years, it's you always say like never been seen before, it's never been a country like this that's ever been seen in the history.

**Donald J. Trump** (1:51)
Well, a lot of people don't understand that right now we are in a golden age. You understand it very well, you cover it very well. We have more factories being built today than ever before. We have more people working today than at any time ever in the history of our country, and people making more money than they've ever made. I'm not talking about rich people, I'm talking about people that have normal or normalized jobs, more money than they've ever made before. 401Ks are up at levels that they've never seen before, up 80 and 90%.
And the stock market is at an all-time high, I think it's 81 days out of a short year and a half, 81 days we have 81 records, so nobody's ever seen anything like that.

**Joe Kernen** (2:37)
Or if it backs up, something's hitting a record.

**Donald J. Trump** (2:40)
Well, if it backs up, it won't.

**Joe Kernen** (2:41)
It must appear the NASDAQ or the Dow, Dow another all-time high.

**Donald J. Trump** (2:45)
But you said if it backs up, hopefully it won't. But because I will not be talking about it, I'll be talking about it another time.

**Joe Kernen** (2:51)
But an unbelievable quarter, unbelievable first half of the year. Your first term, we saw, I think, depending on what you measure it from, either 80% from election day, I think, 70% from inauguration.

**Donald J. Trump** (3:04)
First term was great. First term was...

**Joe Kernen** (3:07)
It might even be at a faster pace.

**Donald J. Trump** (3:09)
This is better. So the first term, we had the most successful four years, including the COVID, when you include that. When I handed it off, it was literally... I mean, you look at the numbers, we had the highest market in history.
First term was great financially. This is, I think, blowing it away. I think this is going to blow it away.

**Joe Kernen** (3:28)
So we had the jobs number today, which is weird because it's Thursday, but the markets aren't open more. About 57,000 jobs were below expectations, and I think there were some revisions, but the job market has been stronger than people anticipated. However, we had $90 oil at 67, 68 today, and 57,000.
Would you say that gives Warsh, the new Fed Chairman who you chose, more flexibility to cut? Because for a while we thought the next move might be a hike. Now, the stars are aligning, would you say, for him to cut?

**Donald J. Trump** (4:04)
Well, he's got a board that maybe is a little bit hostile, and unfortunately, and maybe a board that wants to do the wrong thing. So I don't know. He's a great guy and a great pro, and I know where he'd like to be, but he has to do what he has to do.