A recent poll released by The Financial Times shows that former President Trump has a substantial lead over President Biden when it comes to who would best handle the U.S. economy in the future. The poll revealed that 42 percent of respondents believe Trump would be better suited to steward the economy, while only 31 percent chose Biden.
For Biden, this emphasizes a challenge, as he is overseeing an economy with historically low unemployment and a thriving stock market, but it appears that voters have not been persuaded by his economic management. However, the poll did indicate an increase in positive sentiment about the economy, with 27 percent of respondents describing the U.S. economy as “excellent” or “good,” which is up from 21 percent in a previous poll. Additionally, 47 percent of respondents stated that they can “comfortably” pay their expenses, representing a three percent increase from four months earlier.
Despite these signs of a strengthening economy, this has not translated into approval for President Biden. His approval rating on the economy remains at 36 percent, the same as it was in the previous survey. However, the Trump campaign continues to criticize Biden’s handling of inflation, despite inflation rates dropping to their lowest levels since 2022.
The Federal Reserve is expected to maintain high interest rates for much of the year as inflation continues to decrease. Meanwhile, the Biden administration has put effort into promoting its economic achievements. Treasury Secretary Janet Yellen recently praised the “historic recovery” of the U.S. economy under the Biden administration