WATCH LIVE: Trump officially launches Trump Accounts for kids, ringing Wall Street opening bell

President Donald Trump is officially launching "Trump Accounts" for children, a program designed to foster investment in stock indexes. The initiative is being promoted with a symbolic ringing of the New York Stock Exchange and Nasdaq opening bells from the Oval Office, underscoring Trump's emphasis on the stock market's performance during his presidency.

The program is part of the administration's broader effort to encourage Americans to focus on their 401(k) investments, with Trump frequently attributing market gains to his policies. This push comes as high inflation has negatively impacted his popularity, particularly with the November midterm elections approaching. Trump has sought to highlight positive economic indicators, stating, "It's all going well, the stock market is setting records virtually every day."

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It's all going well, the stock market is setting records virtually every day.

Despite the focus on market performance, public approval of Trump's economic leadership remains low. A June survey by The Associated Press-NORC Center for Public Affairs Research indicated only 33% of U.S. adults approve of his economic leadership. The "Trump Accounts" initiative aims to address the fact that many Americans, particularly those not in higher income brackets, lack direct exposure to stocks. Treasury Secretary Scott Bessent stated the goal is to reduce the number of American adults who do not own stocks from 38% to zero over time.

The article also notes the stock market's performance under the previous administration, with the S&P 500 index posting significant gains in 2023 and 2024 during Joe Biden's presidency. While the benchmark index has risen approximately 10% this year, Trump's own approval ratings have been affected by rising prices, a challenge he pledged to address after winning the 2024 election. The consumer price index has climbed 4.2% over the past 12 months.

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Today, 38% of American adults do not own stocks. But with Trump Accounts, over time, we can get that number down to zero.