Opinion | Most voters think Biden’s economy isn’t working. Can he change their minds? – By Doyle McManus (LA Times) / Dec 17, 2023
The news about the economy seems almost freakishly good.
Growth is up. Unemployment is down. Inflation has slowed to about 3%, the lowest pace in almost three years. The Federal Reserve has even hinted that it might cut interest rates, which has sent stock markets soaring.
But this news hasn’t much helped President Biden’s standing in the polls. His approval rating is stuck below 40%; no president has won a second term from so perilous a starting point.
The disconnect isn’t hard to explain. The rate of inflation has diminished, but prices are still high — the sticky hangover of recovery. Wage increases haven’t caught up (not tangibly,at least), so many families still struggle to make ends meet.
