00:00It's Benzinga bringing Wall Street to Main Street
00:02President Donald Trump said he does not support allowing 401k retirement savings to be used for
00:08home down payments, cooling a policy his administration had been developing to address
00:12housing affordability. According to Bloomberg, Trump said he prefers keeping retirement funds
00:17intact and praised current 401k performance. Trump abruptly reversed course after his top
00:23economic advisor said on January 16th that the full plan would be unveiled in Davos.
00:28Analysts had questioned the proposal, noting buyers can already borrow against 401ks.
00:34The remarks indicate the 401k proposal is being shelved ahead of the midterms.
00:39For all things money, visit Benzinga.com.
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