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Only 7% of Voters Say Joe Biden’s Economy Is ‘Very Good’

A CBS News poll found that just 7% of voters think President Joe Biden’s economy is doing “very well,” while 34% think it is doing “very badly” — a 27-point difference.

Polls offer warning signs for Biden’s chances of reelection: The economy is the No. 1 issue for voters.

Overall, the economy is in bad shape under Biden, according to the poll.

  • Only 32% of voters believe the economy is in very or fairly good shape
  • 63% say the economy is in very bad or very bad shape
  • 5% are unknown

According to the poll, inflation (75%) and the economy (81%) remain the top two issues for voters. Global warming and abortion remain relatively less important, at 35% and 50%, respectively.

poll sampling The number of registered voters for June 5-7, 2024 is 1,615, with a margin of error of plus or minus 3.8 percentage points.

After the Fed kept interest rates steady despite the positive inflation report, Breitbart News’ John Carney wrote on Wednesday that rising interest rates could continue for a longer period of time and could stay elevated forever.

Wall Street had been expecting the Federal Reserve’s economic outlook summary to suggest it expects two rate cuts, rather than the three it has expected since late last year. Fed officials went further by raising the median of their year-end forecast for the benchmark rate to 5.1. Only one cut suggested this year.

More importantly, Fed officials sharply raised their longer-term interest rate outlook.The median forecast for federal funds trended downwards until it reached 2.5% in the summer of 2019. For years afterwards, it seemed to remain fixed at that level despite serious fluctuations in the economy, dropping once to 2.4% in the summer of 2022, but has not risen since.

That changed in March, when forecasters increased their median long-term expectations to 2.6%. It jumped to 2.8 percent..

But inflation is still taking a toll on American taxpayers: Overall, prices have risen by more than 20% since Biden took office.

The average inflation rate under Biden is more than double that under any of the last four presidents.” Research Fellow, Republican National Committee (RNC) Jackie Kotkiewicz Posts About X.Year-on-year inflation has remained above 3% for 38 consecutive months, the longest period of high inflation since the late 1980s.”

Wendell Fsebo is a political reporter for Breitbart News and a former Republican War Room analyst. The Politics of Slave MoralityFollow Wendell “Bat” @WendellHusebø or The truth of society @WendellHusebo.