In a new poll released by The Financial Times, former President Trump has emerged as the leader in the race to handle the economy. Despite President Biden’s efforts to address this key issue, respondents chose Trump over Biden with 42 percent of votes going to the former president, compared to 31 percent for Biden. The remaining respondents were undecided or chose neither candidate.
These results are concerning for Biden, who presides over an economy that is experiencing historically low unemployment and a booming stock market. However, despite this progress, voters have not fully convinced of his economic stewardship. While there was some evidence of rising sentiment on the economy in the poll, with 27 percent of respondents saying the U.S. economy is “excellent” or “good” (up from 21 percent in a previous poll), and 47 percent saying they can “comfortably” pay their expenses (up three percent from November), Biden’s approval rating on the economy remained at 36 percent, which is the same as in the previous survey.
The Trump campaign has been quick to target Biden over inflation, which reached its lowest levels since 2022, with consumer prices rising only slightly between January 2022 and January 2023. This significant decrease from previous months highlights how successful Trump’s strategy has been in swaying voters on this issue. Meanwhile, the Federal Reserve has indicated that it will keep interest rates high due to this continued decrease in inflation.
On the other hand, Janet Yellen has highlighted how well she believes the U.S. economy has recovered under Biden’s leadership during her testimony before Congress’ House Financial Services Committee earlier this year emphasizing strong GDP growth and a significant decline in inflation rates. Despite these efforts by both sides it seems like voters are still unsure about their trust when it comes to handling of Economy by both President Joe Biden and Donald Trump.
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