The White House took aim at former House Speaker Nancy Pelosi during a Thursday press briefing, suggesting she is the primary reason a congressional stock trading ban is gaining momentum.
President Donald Trump on Wednesday accused Pelosi of amassing her personal fortune “by having inside information” in the stock market.
“The reason that this idea to put a ban on stock trading for members of Congress is even a thing is because of Nancy Pelosi,” said White House press secretary Karoline Leavitt to reporters. “She is rightfully criticized because she makes $174,000 a year, yet she has a net worth of approximately $413 million. In 2024, Nancy Pelosi’s stock portfolio — this was a fascinating statistic to me — grew 70% in one year in 2024.”
Leavitt continued, “I think the president stands with the American people on this. He doesn’t want to see people like Nancy Pelosi enriching themselves off of public service and ripping off their constituents in the process.”
Pelosi responded to Trump’s remarks in an interview with CNN’s Jake Tapper, accusing the president of “projecting.”
“That‘s ridiculous,” she said. “In fact, I very much support the stop the trading of members of Congress. Not that I think anybody is doing anything wrong. If they are, they are prosecuted, and they go to jail. But because of the confidence it instills in the American people, don‘t worry about this.”
She added, “But I have no concern about the obvious investments that have been made over time. I‘m not into it. My husband is, but it isn‘t anything to do with anything insider.”
Pelosi spokesperson Ian Krager issued a statement to Fox News Digital, saying: “Speaker Pelosi does not own any stocks and has no knowledge or subsequent involvement in any transactions.”
Pelosi has previously faced scrutiny over potential insider trading, notably in 2022 after her husband, Paul Pelosi, purchased more than $1 million in shares of semiconductor firm Nvidia. The acquisition occurred shortly before Congress voted on a subsidy for the industry and was disclosed in a financial filing from Pelosi’s office.
The matter has resurfaced following action by the Senate Homeland Security and Government Affairs Committee, which on Wednesday advanced the Honest Act. The legislation, championed by Sen. Josh Hawley, R-Mo., was originally introduced as the Preventing Elected Leaders from Owning Securities and Investments Act—also known as the PELOSI Act.
The proposed law would prohibit all lawmakers and their spouses from trading stocks while in office.
