Analysis: The US economy shrank and that’s disastrous for Democrats’ 2022 chances
2 years, 7 months ago

Analysis: The US economy shrank and that’s disastrous for Democrats’ 2022 chances

CNN  

CNN — The news that the US economy unexpectedly shrank over the first quarter of the year is an absolute body blow to Democrats already reeling amid growing economic concerns ahead of the 2022 midterm election. Video Ad Feedback 'We really shouldn't panic': CNN reporter breaks down US economy shrinkage 01:32 - Source: CNN And Gallup’s Economic Confidence Index, which measures respondents’ feelings about the economy from +100 to -100, is currently at -39. “It’s the worst political environment that I’ve lived through in 30 years of being a political consultant,” Biden pollster John Anzalone said recently. Video Ad Feedback New polls reveal how Biden compares to Trump 01:29 - Source: CNN Midterm elections in a president’s first term are routinely bad for their party in Congress. In political terms, that is a very short window to turn around peoples’ perception of the economy – particularly if inflation remain anything close to their current levels.

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History of this topic

History Will Be Kinder to Joe Biden Than the Pollsters
1 week, 1 day ago

History Will Be Kinder to Joe Biden Than the Pollsters

Live Mint  

Now that pollsters are declaring President Joe Biden a “failure,” historians will reckon with too many economic signals rendering the prevailing narrative little more than media noise. From the American Rescue Plan Act of 2021 that ushered in the longest period of unemployment below 4% since the 1960s to the Infrastructure Investment and Jobs Act of 2021 that paved the …

Democratic President Rebuilds Economy, Just In Time To Hand It Off To Trump — Again
2 weeks ago

Democratic President Rebuilds Economy, Just In Time To Hand It Off To Trump — Again

Huff Post  

LOADING ERROR LOADING WASHINGTON — President Joe Biden on Tuesday took credit for building a strong economy out of the ruins of the COVID-19 pandemic — just in time for him to turn it over to President-elect Donald Trump, who is already threatening tariffs that would likely weaken it and bring back inflation. “I’m not saying it was perfect, but …

Biden Says Trump Economic Plan will be Disaster
Trending News
2 weeks ago

Biden Says Trump Economic Plan will be Disaster

Deccan Chronicle  

Washington: Outgoing US President Joe Biden on Tuesday branded his successor Donald Trump's economic plans a "disaster" in a speech hailing his own legacy in office. Biden said Trump's threats to impose huge tariffs on imports were a "major mistake" and urged the Republican to abandon proposed tax cuts. I think it'd be an economic disaster for us and the …

What the latest numbers tell us about the economy before the election
1 month, 3 weeks ago

What the latest numbers tell us about the economy before the election

NPR  

What the latest numbers tell us about the economy before the election This year's presidential campaign has focused heavily on economic issues. NPR's chief economics correspondent, Scott Horsley, joins us. SIMON: Scott, The Economist just had a cover story calling the U.S. economy the envy of the world, but a lot of Americans demonstrably don't seem to feel that way. …

A recession in America by 2024 looks likely
4 months, 1 week ago

A recession in America by 2024 looks likely

Live Mint  

Not long ago recessions seemed to strike America roughly once a decade. But because the world economy, asset markets and America’s politics are all fragile, it may yet have nasty and unpredictable consequences. An American recession would land another blow on vulnerable parts of the global economy by curbing demand for their exports. But after over a decade of cheap …

‘Voters Are Queasy or Sour About the Economy’: Wall Street Week
5 months, 3 weeks ago

‘Voters Are Queasy or Sour About the Economy’: Wall Street Week

Bloomberg  

Welcome to the Wall Street Week newsletter, where the best minds on Global Wall Street give you some investing food for thought from our conversations on Bloomberg Television. I’m David Westin, and this week we talked with Roger Altman of Evercore about the economic choice in November’s US election, with Ray McGuire of Lazard about the need on the horizon …

Opinion: Trump's claims about the economy in the debate will be lies
5 months, 4 weeks ago

Opinion: Trump's claims about the economy in the debate will be lies

LA Times  

Expect the economy to be debated by President Biden and former President Trump on Thursday. Spoiler alert: “Bottom line, in their totality, Biden’s policies are better for the economy than Trump’s,” Moody’s chief economist Mark M. Zandi told me. Moody’s projects that after Trump’s recession, the economy would return to growth late in his second term, for average annual growth …

Opinion: What's convincing voters that the economy is worse than ever?
6 months, 3 weeks ago

Opinion: What's convincing voters that the economy is worse than ever?

LA Times  

One of the worst things about democracy is the way we talk about it. But competitive elections — essential to any workable definition of democracy — require some voters to be “wrong.” I don’t necessarily mean in their policy preferences, I just mean elections create winners and losers. No, President Biden is struggling to convince the electorate that the economy …

Voters in this 'boomerang' county say they're nostalgic for the Trump economy
7 months, 3 weeks ago

Voters in this 'boomerang' county say they're nostalgic for the Trump economy

NPR  

Voters in this 'boomerang' county say they're nostalgic for the Trump economy Enlarge this image toggle caption Asma Khalid/NPR Asma Khalid/NPR EASTON, Pa. — Luis Escarraman says he is nostalgic for the Trump economy. Inflation was a top issue in this "boomerang" county back in 2021 Heading into the 2024 election, inflation is one of Biden's biggest and most persistent …

Fox host vexed by Biden’s good job numbers finds a solution – give the credit to Trump
8 months, 2 weeks ago

Fox host vexed by Biden’s good job numbers finds a solution – give the credit to Trump

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Fox Business host Maria Bartiromo risked ridicule on her own …

Biden’s chances of re-election are better than they appear
10 months, 2 weeks ago

Biden’s chances of re-election are better than they appear

Hindustan Times  

AMERICANS HAVE not been impressed by President Joe Biden’s handling of the economy. The gap in perceptions augurs ill for Mr Biden’s chances of winning the presidential election in November, especially since voters rank the economy as the most important issue facing the country. Despite Mr Biden’s poor approval ratings when it comes to economic management, could the state of …

Opinion: Economists see a 'spectacular' economy. Most voters don't. Can Biden turn that around?
10 months, 3 weeks ago

Opinion: Economists see a 'spectacular' economy. Most voters don't. Can Biden turn that around?

LA Times  

If President Biden’s reelection hinged on the state of the economy, he’d be a good bet, or at least a better one. We journalists have to do better: Stop letting South Carolina Sen. Tim Scott, for instance, get away unchecked with saying Biden “has destroyed our economy,” as happened on a recent Sunday talk show. Responding to Biden’s celebratory statement …

Biden lauds solid 2023 growth as reelection bid gains pace
10 months, 4 weeks ago

Biden lauds solid 2023 growth as reelection bid gains pace

Hindustan Times  

US President Joe Biden and his Treasury chief touted the country's robust 2023 economic performance Thursday, with stronger than expected growth offering a boost as the Democratic incumbent revs up his reelection campaign. The latest GDP data strengthens optimism that America is achieving a "soft landing," where inflation comes down on higher interest rates, without triggering a recession. The fourth …

Yellen says current US economic growth 'vindicates' Biden's COVID-19 pandemic stimulus spending
11 months, 1 week ago

Yellen says current US economic growth 'vindicates' Biden's COVID-19 pandemic stimulus spending

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Yellen says current US economic growth ‘vindicates’ Biden’s COVID-19 pandemic stimulus spending
11 months, 1 week ago

Yellen says current US economic growth ‘vindicates’ Biden’s COVID-19 pandemic stimulus spending

Associated Press  

WASHINGTON — Treasury Secretary Janet Yellen is pushing back against Republican criticism of the Democrats’ big coronavirus pandemic response package and making an election-year pitch that the current state of the U.S. economy “vindicates” the steps taken in 2021 to “get our economy back on track.” With falling inflation, unemployment at 3.7% and the U.S. apparently defying predictions of a …

Trump says he hopes the US economy crashes this year for his own benefit
11 months, 2 weeks ago

Trump says he hopes the US economy crashes this year for his own benefit

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “What we’re seeing now I think we can describe as a soft landing, and …

Biden goes into 2024 with the economy getting stronger, but voters feel horrible about it
1 year ago

Biden goes into 2024 with the economy getting stronger, but voters feel horrible about it

Associated Press  

WASHINGTON — President Joe Biden goes into next year’s election with a vexing challenge: Just as the U.S. economy is getting stronger, people are still feeling horrible about it. “Things are getting better and people think things are going to get worse — and that’s the most dangerous piece of this,” said Democratic pollster Celinda Lake, who has worked with …

Biden slams Trump on economic record, unemployment in Pennsylvania speech
1 year, 3 months ago

Biden slams Trump on economic record, unemployment in Pennsylvania speech

India Today  

US President Joe Biden on Monday took shots at his likely 2024 rival, Donald Trump, in a Labour Day speech aimed at shoring up support in Pennsylvania, a state he needs to win next year to retain the White House. A self-described champion of labour unions, Biden addressed union workers in Philadelphia as he sought to explain his economic policies …

How ‘Bidenomics’ looks now isn’t what matters. It’s how voters view it in a year that counts
1 year, 5 months ago

How ‘Bidenomics’ looks now isn’t what matters. It’s how voters view it in a year that counts

LA Times  

President Biden delivers remarks on the economy June 28 in Chicago. The economy is growing by about 2% a year, job creation remains strong and — most important from a political standpoint — inflation has eased to 4% from last year’s peak of 9%. Biden’s bet is that if the economy continues to improve, public opinion will evolve as well …

With eye towards 2024, Biden touts ‘Bidenomics’ economic strategy
1 year, 5 months ago

With eye towards 2024, Biden touts ‘Bidenomics’ economic strategy

Al Jazeera  

The economic platform is set to be a centrepiece of Biden’s reelection bid, with its focus on middle-class gains. Some observers have noted the rollout of “Bidenomics” appears to be part of a wider attempt to unify Biden’s legislative victories into a more coherent ideology, emphasising middle-class gains. Some foreign policy analysts have also noted Biden’s policies have at times …

Biden is eager to run on the economy — ‘Bidenomics’ — but voters have their doubts
1 year, 5 months ago

Biden is eager to run on the economy — ‘Bidenomics’ — but voters have their doubts

Associated Press  

WASHINGTON — President Joe Biden is eager to take full political ownership of the U.S. economy — a reflection of the White House belief that inflation is fading, job growth is solid and voters need to know about it. For him, there’s a happy confluence of the coming 2024 reelection campaign and a favorable turn in recent economic data, leading …

No recession in US in 2023 or 2024: Joe Biden's expert-defying/ denying claim
1 year, 10 months ago

No recession in US in 2023 or 2024: Joe Biden's expert-defying/ denying claim

Hindustan Times  

US president Joe Biden said that he did not believe the US economy will fall into recession in 2023 or even next year in 2024. Earlier, Joe Biden had said that a recession was possible in the US although he said this week that the risk was very low. The economic data for the past few months has been in …

Biden sees economy avoiding recession, but risks remain
2 years ago

Biden sees economy avoiding recession, but risks remain

Associated Press  

WASHINGTON — President Joe Biden assured Americans on Friday that the U.S. economy is chugging along in the holiday season, but the very strength of a new jobs report showed that high inflation remains a recession threat. “I’ve supported paid sick leave for a long time,” said the president, a staunch labor union supporter. “I’m going to continue that fight …

It’s the economy, stupid? The key issue on the ballot in US midterm elections
2 years, 1 month ago

It’s the economy, stupid? The key issue on the ballot in US midterm elections

Hindustan Times  

As US votes in a major election that could redefine president Joe Biden's term, one major issue on the minds of the Americans continues to be the economy. The midterm elections could halt Joe Biden and his Democratic party's agenda if the Congress is controlled by the Republicans after the polls. Joe Biden has repeatedly insisted that his administration has …

Don’t expect the bounce-back in the US economy to quiet recession calls
2 years, 1 month ago

Don’t expect the bounce-back in the US economy to quiet recession calls

CNN  

New York CNN Business — Don’t expect the bounce-back in the US economy in the third quarter to quiet the chorus of recession calls. “That’s why I’ve tried to wave people off of this whole question about whether there was a recession or has been a recession in the first half because inflation is bad enough,” Mark Hamrick, senior economic …

United States recession fears grow as economy contracts for second quarter
2 years, 4 months ago

United States recession fears grow as economy contracts for second quarter

ABC  

The United States economy has unexpectedly contracted in the second quarter, with consumer spending growing at its slowest pace in two years and business spending declining, raising speculation the economy is on the cusp of a recession. Key points: Prices for groceries, petrol and other basics increased at the fastest pace since 1981 Job growth averaged 456,700 per month in …

Biden shrugs off recession talk, talks up fighting inflation
2 years, 4 months ago

Biden shrugs off recession talk, talks up fighting inflation

Associated Press  

WASHINGTON — President Joe Biden and his administration went all out Thursday to play down a troubling new economic report that added to the evidence of a recession, trying to pull focus instead to major legislative progress on measures to tame inflation, reduce debt and preserve America’s competitive edge. Republicans said the report showing the economy shrank for the second …

US economy shrinks for a 2nd quarter, raising recession fear
2 years, 4 months ago

US economy shrinks for a 2nd quarter, raising recession fear

Associated Press  

WASHINGTON — The U.S. economy shrank from April through June for a second straight quarter, contracting at a 0.9% annual pace and raising fears that the nation may be approaching a recession. “The fact that the economy created 2.7 million payrolls in the first half of the year would seem to argue against an official recession call for now.” Still, …

US economy shrinks for a second quarter, fuelling recession fears
2 years, 4 months ago

US economy shrinks for a second quarter, fuelling recession fears

Al Jazeera  

The fall in US GDP comes on the heels of the Federal Reserve raising interest rates, as Chair Jerome Powell says growth needs to slow. The US economy shrank for a second straight quarter, raising chances of a recession, as decades-high inflation undercut consumer spending and Federal Reserve interest-rate hikes stymied business investment and housing demand. The report illustrates how …

Yellen downplays US recession risk as economic reports loom
2 years, 5 months ago

Yellen downplays US recession risk as economic reports loom

Associated Press  

WASHINGTON — Treasury Secretary Janet Yellen on Sunday said the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession. Yellen spoke on NBC’s “Meet the Press” just before a slew of economic reports will be released this week that will shed light on an economy currently besieged by rampant inflation and …

US president Joe Biden says recession is 'not inevitable'
2 years, 6 months ago

US president Joe Biden says recession is 'not inevitable'

Firstpost  

In an interview, the president emphasised the battered economy that he inherited and the lingering psychological scars caused by a pandemic had disrupted people’s sense of identity Washington: President Joe Biden said on 16 June, 2022, the American people are “really, really down” after a tumultuous two years with the coronavirus pandemic, volatility in the economy and now surging gasoline …

Biden says recession ‘not inevitable’ as Fed looks to raise interest rates to curb inflation
2 years, 6 months ago

Biden says recession ‘not inevitable’ as Fed looks to raise interest rates to curb inflation

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Joe Biden told the Associated Press that a recession is …

More bad news for Biden: More Americans are blaming him for the state of the economy
2 years, 7 months ago

More bad news for Biden: More Americans are blaming him for the state of the economy

CNN  

CNN — Sometimes understanding political opinion is complicated. You’d have to go back a little over 10 years to find as many Americans saying the economy was in as bad shape. But what’s different today is that a clear majority of Americans, according to our latest poll, believe Biden’s economic policies have worsened the shape of the economy. But when …

CNN Poll: Most Americans have a dismal view of the US economy
2 years, 7 months ago

CNN Poll: Most Americans have a dismal view of the US economy

CNN  

CNN — The US public’s view of the nation’s economy is the worst it’s been in a decade, a new CNN Poll conducted by SSRS finds, with many Americans also saying they feel financial strain in their own lives. And across party lines, most Americans say they’ve heard little or no recent good news on the issue. Overall, only 19% …

Is a global recession coming? In US, China risks are mounting
2 years, 8 months ago

Is a global recession coming? In US, China risks are mounting

Al Jazeera  

Ukraine war and China’s lockdowns among risks to global growth, although most economists say downturn unlikely in 2022. The war in Ukraine, Russia sanctions, China’s “zero COVID” policies, spiking inflation, and interest hikes by the United States Federal Reserve are all set to crimp growth in 2022. On Wednesday, European Council President Charles Michel told the European parliament he believed …

Opinion: The disconnect that could take Democrats down
3 years ago

Opinion: The disconnect that could take Democrats down

CNN  

Editor’s Note: Julian Zelizer, a CNN political analyst, is a professor of history and public affairs at Princeton University and author of the book “Abraham Joshua Heschel: A life of Radical Amazement.” Follow him on Twitter @julianzelizer. CNN — President Joe Biden must work harder to spread some holiday cheer now that we have a great deal of positive economic …

Americans grow pessimistic on the economy as high inflation lingers
3 years, 1 month ago

Americans grow pessimistic on the economy as high inflation lingers

CNN  

New York CNN Business — Nearly two-thirds of Americans describe the economy as poor in a new poll that comes amid high inflation and supply chain turmoil. The poll, released Monday by The Associated Press-NORC Center for Public Affairs Research, found just 35% of Americans now call the national economy good. In another sign of pessimism, nearly half of Americans …

CNN Poll: One year into the coronavirus pandemic, most Americans say the worst has passed
3 years, 9 months ago

CNN Poll: One year into the coronavirus pandemic, most Americans say the worst has passed

CNN  

CNN — After a full year living under the shadow of the coronavirus pandemic, the American public finally sees a brighter future, according to a new CNN Poll conducted by SSRS. As Biden prepares to stand before the country in a prime-time address marking the one-year anniversary of widespread lockdowns in the United States, most Americans say they have a …

Biden’s Covid plan has to work. The economy depends on it
3 years, 11 months ago

Biden’s Covid plan has to work. The economy depends on it

CNN  

New York CNN Business — The fate of the economic recovery is riding on President Joe Biden’s mission to speed up the lackluster rollout of coronavirus vaccines. “We won’t see a strong economic rebound until we get broad distribution of the vaccine,” said Kristina Hooper, chief global strategist at Invesco. Kevin Hassett, a former economic adviser to President Trump, told …

U.S. Economy is ‘spiraling downward’, warns top Biden advisor
3 years, 11 months ago

U.S. Economy is ‘spiraling downward’, warns top Biden advisor

Al Jazeera  

US President-elect Biden’s $1.9 trillion spending plan will help generate the kind of ‘robust recovery’ the US needs, says incoming head of National Economic Council. A top economic adviser to President-elect Joe Biden warned the U.S. economy is “spiraling downward” and called for swift action to address vulnerabilities that the global pandemic has drawn into focus. Brian Deese, who will …

Joe Biden’s economic agenda is suddenly alive again. America could use the jobs
3 years, 11 months ago

Joe Biden’s economic agenda is suddenly alive again. America could use the jobs

CNN  

New York CNN Business — Democrats are on the cusp of taking control of the Senate, breathing new life into President-elect Joe Biden’s economic agenda at a time America’s job market could really need the help. That could help to create jobs in the long term – including one million jobs in the auto industry and 10 million clean energy …

US Election 2020 Highlights: Economy Critical Issue for One-third of Voters, Shows CNN National Exit Poll
4 years, 1 month ago

US Election 2020 Highlights: Economy Critical Issue for One-third of Voters, Shows CNN National Exit Poll

News 18  

US Presidential Election 2020 Highlights: According to the CNN National Exit Polls, the Economy is the most critical issue in US citizens? Meanwhile, More than 100 million Americans cast their ballots in advance of Tuesday?s Election Day, according to the US Elections Project watchdog, a record figure largely attributed to the Covid-19 pandemic. Polling stations opened in New York, New …

US Election 2020 Key Issues: Jobs, the economy and where Trump and Biden stand
4 years, 1 month ago

US Election 2020 Key Issues: Jobs, the economy and where Trump and Biden stand

Firstpost  

While President Donald Trump touts the country’s pre-pandemic economy, Joe Biden is focussing on building back better, promising to ‘create millions of good-paying jobs’ At the beginning of October 2020, a staggering 23.2 million people were on unemployment benefits in the United States. While President Donald Trump touts the country’s pre-pandemic economy, claiming he is the candidate to pull it …

US election 2020: Economy, unemployment and the impact on polls
4 years, 2 months ago

US election 2020: Economy, unemployment and the impact on polls

Hindustan Times  

America has been hit hard by the coronavirus pandemic. The number of Americans filing new applications for unemployment benefits has reached 898,000 The US unemployment rate dropped to 7.9 per cent in early October. In contrast, China’s economy is recovering with 4.9 per cent growth between July and September and it is now leading the global recovery post the coronavirus …

US jobs surge: Donald Trump sees sunshine, Joe Biden 'no victory yet'
4 years, 5 months ago

US jobs surge: Donald Trump sees sunshine, Joe Biden 'no victory yet'

India Today  

The US economy just posted its best single-month job gain in history. “Today’s announcement proves that our economy is roaring back,” Trump exulted to reporters at the White House after the June numbers were released. “But make no mistake, we’re still in a deep, deep job hole because Donald Trump has so badly bungled the response to coronavirus.” Thursday’s data …

AP-NORC poll: Politics drive divergent view of US economy
4 years, 6 months ago

AP-NORC poll: Politics drive divergent view of US economy

Associated Press  

WASHINGTON — Americans’ outlook on the national economy has improved somewhat from its lowest points during the early weeks of the coronavirus pandemic, but a new poll suggests Democrats and Republicans are living in alternate economic realities amid the sharpest recession in the nation’s history. “The economy is in terrible shape and improving rapidly,” said Harvard University professor Jason Furman, …

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