![]() Many of the Democrats he needs to marshal in 2024 are comparatively unenthusiastic about his economic record. The new poll identifies a weakness within Biden’s own base. The White House said it’s monitoring the air quality in Chicago but would not cancel the president’s scheduled events, which included a campaign reception in addition to the speech on the economy. But prices are still rising significantly faster than the Federal Reserve’s target of 2%, a worry for voters and a line of attack for Republican lawmakers and other presidential candidates.Īnd smoke from Canadian wildfires, evident in Chicago on Wednesday, has added a new cloud for workers and shoppers in the U.S. The inflation that has plagued Biden’s presidency has fallen to 4% from a peak of 9.1% last June. Unemployment stands near a historic low at 3.7%. The Conference Board said Tuesday that consumer confidence this month reached the highest level since January 2022. Indeed, the economy has steadily improved over the past year of Biden’s term in the White House. GOP officials say their tax cuts have encouraged business investments and profits that have improved pay for workers and bolstered the stock market, while greater government spending would cause prices to keep rising and waste money. Republican leaders such as House Speaker Kevin McCarthy, R-Calif., said last year that the high inflation under Biden’s watch meant that “we are in a recession,” but that is not the case under economic definitions. will avoid the recession that many economic analysts have been expecting. He wants voters to connect local roads and bridge projects, factory construction and the rise of electric vehicles and renewable energy to the millions of dollars in initiatives he signed into law during the first two years of his administration.Īs he was departing Washington on Wednesday, Biden said he believes the U.S. That 34% figure is even lower than his overall approval rating of 41%, according to the survey from The Associated Press-NORC Center for Public Affairs Research.īiden’s approval figures have barely moved for the past year and a half, a source of concern for a president pursuing a second term on his ability to govern and focus on workers. ![]() adults approve of his economic leadership. In a major economic speech in Chicago, Biden said his administration’s efforts were sparking recovery after Republican policies had crushed America’s middle class. economy is thriving under what he now touts as “Bidenomics” - even as a new poll showed that could be a hard sell as the foundation for his 2024 reelection campaign. CHICAGO (AP) - President Joe Biden made his pitch Wednesday to a skeptical public that the U.S.
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