Biden worries about the impact of inflation on his popularity

President Joe Biden’s campaign advisers are concerned about persistent U.S. inflation after a poll found 80% of voters attribute their main challenges to high prices.

This week, Biden highlighted on social media X the fact that the Dow stock market index hit an all-time high, taking it as a sign of market confidence in the North American economy.

“This is great news for Americans’ retirement accounts and further evidence of confidence in the US economy,” Biden wrote.

Biden’s social media post came days after his campaign advisers raised concerns in statements to North American media about the impact of inflation on the president’s popularity.

In response to this message, thousands of Americans expressed dissatisfaction with the financial difficulties they continue to experience due to high inflation.

While economic indicators show significant improvement in the US economy, voter perceptions fall far short of this optimism, with a Financial Times poll finding that 80% of voters say high food prices are the main problem facing families economically.

Other polls show Biden’s popularity slipping in states seen as important to the outcome of the Nov. 5 presidential election – so-called swing states, especially Nevada, Georgia and Pennsylvania – where his Republican opponent Donald Trump could secure the votes needed to returning to the White House.

“The problem for Biden is that despite clear signs of economic recovery, people are not feeling it in their pockets. On the contrary, high inflation causes them to perceive just the opposite, especially among families with more fragile economic conditions. ” Lisa Branson, a political science researcher at the University of Texas at Austin, said in a statement to Luse.

According to this expert, high inflation mainly affects low-income voters, those who polls show are most persuaded by Trump’s proposals.

US Federal Reserve data shows the consumption index continues to rise, prompting the US central bank to slow interest rate cuts to try to accelerate its 02% target.

“This from the Federal Reserve mainly hurts the poorest people because they are the ones with the most credit card debt. And that’s keeping them away from Biden,” Branson explained, referring to efforts the president is making to correct the trajectory. your policy.

“In recent days, Biden has presented economic proposals similar to those championed by Trump, namely tariffs on imported products from China, largely to please those who want more protectionism in the US market,” Branson said. in the form of measures the White House unveiled this week.

A Financial Times poll found that a majority of voters believe Biden’s economic strategy has harmed the economy, and more than 60% (even among Democrats) support a significant change in the direction of the government’s fiscal policy.

Polls also show that most voters believe Trump has a better chance of making changes to the system that many want, especially as they hear the Republican nominee guarantee that if he returns to the White House, he will not allow the Fed system to make decisions about policies that harm the most economically vulnerable families.