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This week in Trumponomics

Yahoo Finance's Rick Newman joins Yahoo Finance Live to discuss his final Trumpnomics assessment and gives his outlook for Biden's presidency.

Video Transcript

[MUSIC PLAYING]

ADAM SHAPIRO: Roughly 42 minutes to the closing bell. We're watching the markets in a bit of a sell off, S&P 500 off about 15, Dow is off about 75, NASDAQ's down about 70 points. The president's mood is down as well. But who better to gauge President Trump than Rick Newman? We bring him in right now to talk about the final, how do I put this, the final Trumpometer reading.

RICK NEWMAN: I know, it's a momentous day, Adam. I mean, I'm almost moved to tears myself. But let's get on with it. We've spent the last four years analyzing the Trump economy with our Trumpometer and also our Trumponomics report card. This is the last one.

And I think we're going to close the book on this project not looking back on the Trump economy we've talked about so much, it's in tough shape right now, but looking forward to the Biden economy. Is he actually going to be able to do anything different? And I'm going to make the stipulation that, yes, I think Biden can do some things to improve the economy that Trump would not have done.

And he's-- look at two things we're talking about right now. He wants to start a federal vaccination program, a national program, with a lot of money for community vaccination centers, mobile units driving out to rural areas, and things like that. And he wants to significantly ramp up coronavirus testing to make it easier to isolate people who are sick and make it easier to open schools and businesses in some areas.

So maybe 2021 will be our year of recovery. So with that in mind, the final Trumpometer is actually measuring expectations for the Joe Biden economy. And that's why the Trumpometer after this week says mediocre. That's actually our third highest rating. And that's how we're going out.

SEANA SMITH: Not bad, going out on a positive note.