New poll reveals former President Trump leading current President Biden on the economy.
In a recent survey conducted by The Financial Times, it was found that former President Trump has a clear advantage over current President Biden when it comes to handling the economy. The poll asked participants who they believed would be the best at managing the economy, and 42% of respondents chose Trump, while only 31% selected Biden. The remaining participants were undecided or did not choose either candidate.
Despite presiding over historically low unemployment rates and a booming stock market, Biden appears to have failed to convince voters of his competence in managing the economy. Although there was some evidence of an improvement in sentiment about the U.S. economy in the poll, with 27% of respondents stating that the country’s economy is “excellent” or “good” (an increase from 21% in a previous survey), and 47% stating that they can comfortably pay their bills (an increase of three percentage points from November), Biden’s approval rating for managing the economy remained unchanged at 36%.
The Trump campaign has seized on this opportunity to attack Biden’s economic policies, particularly his handling of inflation. Inflation reached its lowest levels since January 2022 between January 2022 and January 2023, with consumer prices rising only 3.4%. However, despite this positive development, consumer prices still rose by 0.3% between December and January, resulting in a significant decrease from previous months. This decrease is expected to lead to higher interest rates being kept by the Federal Reserve due to concerns about inflationary pressures on the economy.
The Biden administration has also been working hard to promote its economic achievements under his leadership. Treasury Secretary Janet Yellen highlighted the “historic recovery” of the U.S. economy since COVID-19 under President Biden during her remarks before Congress’ House Financial Services Committee, emphasizing strong GDP growth and a significant decline in inflation rates since last year.
This new poll serves as an important reminder that voter trust in economic management is crucial during presidential elections and will likely play a significant role in determining who will be elected president in November.
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