It’s a clear upward turn for Biden following a grueling period of price spikes that soured voters’ mood and damaged the president’s approval ratings. Biden has consistently received low marks on his handling of the economy, with polls showing cost of living issues among Americans top concerns. But now, with…
This week, the Federal Reserve took note of the economy’s durability, with Chair Jerome Powell saying “the economy is performing well, the labor market remains strong.” The Fed made clear that while it’s nearing a long-awaited shift toward cutting interest rates, it’s in no hurry to do so. To fight…
It’s an argument that recognizes the sales job Biden has tried to make about his economic needs to be more of a contrast. But aides also believe they have the fodder to make this messaging shift work. In particular, Biden officials have homed in on the GOP frontrunner’s passage of…
White House seizes on positive economic message
But 10 months out from the election, those new factory projects remain in their early stages — and have yet to generate an anticipated wave of manufacturing jobs. And after a pandemic-era rebound, industry hiring overall has turned stagnant: Manufacturers added just 12,000 jobs in 2023 amid an extended business…
Federal Reserve declines to raise interest rates
Once upon a time, Judis and Teixeira’s The Emerging Democratic Majority was hailed for having foreseen the rising minority and college-grad demographic combo that powered Barack Obama’s wins. But the political realignment that Democratic Beltway insiders simplistically took as a matter of faith never happened. And now the pair are…
Just 35 percent of Americans trusted Democrats more on economic issues, according to weeks of private polling presented to the White House in mid-September and recently obtained by POLITICO. The data reinforced broad concerns over the public’s dismal outlook. Despite expressing widespread support for Biden’s policy agenda, few voters were…
The collective impact: a cascading set of new financial burdens that are disproportionately affecting women, young people and people of color — a core part of the Democratic electorate. Coming on top of stubbornly high inflation, they risk further undermining the president’s pitch that he’s rebuilding the economy “from the…
Still, the job market is gradually decelerating along the lines that Fed officials have wanted to see. The Fed has raised its key short-term rate from near zero to about 5.4%, a 22-year peak, leading to higher borrowing rates for consumers and businesses and lower inflation. Despite that headwind, the…