Trump Says He 'Doesn't Want to Be Another Hoover,' Reaches Deal to Avoid Economic Collapse

BlockBeats News, June 18th – U.S. President Trump delivered a speech on Wednesday after the conclusion of the G7 summit in France, defending the agreement reached between the U.S. and Iran. He expressed his reluctance to see the continuation of the Middle East conflict, fearing it could lead to an economic disaster. Speaking at the lakeside resort of Evian-les-Bains in France, Trump said, "The last thing I want to see is a financial disaster. If this conflict persists, such a scenario is entirely possible."

Trump stated that he does not want to become another Herbert Hoover. In October 1929, during the U.S. stock market crash, Hoover was serving as the U.S. President. The stock market crash wiped out billions of dollars in wealth and eventually triggered the economic crisis later known as the "Great Depression." (FXStreet)