Scaramucci: ‘Painful’ to admit Wall Street is fine with Trump

Anthony Scaramucci, who briefly served as former President Trump’s White House communications director, criticized Wall Street on Monday for being too “nonchalant” about the possibility of Trump returning to office and warned he poses a “great risk” to business in the country.

“It’s painful for me to admit this, but Wall Street is basically nonchalant to this election,” Scaramucci said in an interview with The Hill.

“I think they view Donald Trump by and large as benign to somewhat beneficial to the economy and business, despite the fact that he spent $7.8 trillion of additional deficit spending. And I think that they’re viewing this as a Fed-driven market, more than it is a Democratic or Republican presidency market,” Scaramucci said.

Scaramucci, who served a historic 10-day term in office under Trump in 2017, is now a frequent critic of the former president.

In Monday’s interview, Scaramucci warned of the danger he thinks Trump poses on U.S. institutions, which he said is “ultimately really bad for business.”

On Wall Street’s position on Trump, Scaramucci said: “So that’s unfortunate, because, as President Biden is pointing out, Mr. Trump is at great risk to the institutions of America.”

“And you know, I think if we lose any of those cherished, institutions, it’s ultimately really bad for business,” Scaramucci continued. “So it’s a great irony that people are aren’t focused enough on what’s at stake here.”

Trump is the front-runner in the 2024 GOP presidential primary, whose contests will kick off officially with the Iowa caucuses next week. Trump also faces four criminal indictments, including two related to his efforts to stay in office after losing the 2020 presidential election.