The Financial Times has released a new poll indicating that former President Trump has an 11-point lead over President Biden in terms of who would best handle the economy. This poll is significant as the economy is often a key issue in presidential elections. According to the survey, 42 percent of respondents believe Trump would be the best steward for the U.S. economy, while 31 percent chose Biden. The remaining respondents were undecided or said neither candidate would be best.
President Biden is currently presiding over historically low unemployment and a booming stock market, but has yet to convince voters of his economic stewardship. While there is some evidence of rising sentiment on the economy, with 27 percent saying the U.S. economy is “excellent” or “good” and 47 percent saying they can “comfortably” pay their expenses, this sentiment has not translated into approval for Biden. His 36 percent approval rating on the economy remains unchanged from November’s survey.
The Trump campaign has kept its focus on inflation, which was high during Biden’s first years in office but has now reached its lowest levels since 2022. Consumer prices have risen by just 3.4 percent between January 2022 and January 2023, with no increase recorded between December and January.
The Biden administration has been working to sell its story on the economy, with Treasury Secretary Janet Yellen boasting about the “historic recovery” of the U.S. economy since COVID under the Biden administration. She stated that GDP growth is strong, inflation has declined significantly, and a healthy labor market has been achieved.
The figures and poll results underline the significant role that the economy plays in political leadership and voter opinion.
Despite his recent successes in managing the American economy, President Biden faces challenges in convincing voters of his economic stewardship due to lingering negative opinions towards him from former President Trump’s supporters.
Meanwhile, former President Trump continues to maintain an advantage over President Biden when it comes to handling the American economy according to a new Financial Times poll.
This presents a dilemma for both administrations as they continue to work towards improving economic conditions while also facing opposition from voters who question their abilities to manage it effectively.