It is no coincidence that the stock market has seen substantial gains since Donald Trump's election in November, according to the president of the New York Stock Exchange.
Thomas Farley said Tuesday on Fox Business that Trump's presidency has "unquestionably" caused business and consumer confidence to increase and the stock market to soar.
"From a financial perspective, from a markets perspective, they've been on fire. The NYSE has been on fire," host Neil Cavuto said to Farley. "We're seeing a lot more of that sort of thing. Do you think the president's agenda is a big reason for that?"
Farley responded that Trump's policies have helped spark the "fire" in the markets that Cavuto referred to, citing economic indicators to corroborate his claim.
"Yeah, unquestionably. I think that's manifest," Farley said. "Business confidence has improved, consumer confidence has improved since the election."
Farley recalled how the Dow Jones Industrial Average took a downward spiral on the night of the 2016 election but has rebounded to record levels since then.
"The Dow Jones was all the way down near 17,000 on the night of the election, if you remember, the futures really diving, and now it's up, what is it, 15 percent," Farley said.
Farley met with Trump and CEOs on Tuesday and called the gathering a "really productive morning." Trump, according to Farley, conveyed a "business-friendly stance" and focused on "his quest to reduce regulations and to have smarter taxes."
The NYSE president added that Trump relieved his concerns about him staying on message and focusing on the economy. However, Farley did note "there wasn't a lot of specifics around timing" for executing Trump's agenda.