“Good things are happening in the economy, but the average American doesn’t necessarily associate them with the president,” a Biden aide told me. Hence “Bidenomics,” a brassy way to claim authorship of a recovery most voters don’t see yet. “The consumer price index is 16% higher than when Biden came to office,” Republican pollster David Winston pointed out.Īnd while growth appears strong, financial pundits keep warning that a recession could arrive any day now, especially if the Federal Reserve raises interest rates again.īiden’s bet is that if the economy continues to improve, public opinion will evolve as well - and he wants to get credit when it does. Inflation is easing, but prices are still stuck at inflation-fueled levels. But the public’s downbeat mood isn’t all that mystifying.
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