Former President Trump has a big lead over President Biden Opinion poll published by the Financial Times This gives him an 11-point lead on the question of who will best handle the economy, which is often a key issue in presidential elections.
In a poll released Sunday, about 42% of respondents said Trump is the best manager for the future of the U.S. economy, while 31% chose Biden. The rest were either undecided or did not mention either candidate.
The numbers highlight Biden’s dilemma. Although Biden is presiding over historically low unemployment and a booming stock market, he appears to have yet to convince his voters of his responsibility to manage the economy.
A Financial Times poll showed some evidence of rising economic sentiment.
About 27% of respondents said the U.S. economy was “excellent” or “in good shape,” up from 21% in the poll four months ago. Similarly, 47% of respondents said they could “comfortably” pay their expenses, an increase of 3% from November.
But that sentiment hasn’t translated into support for Biden. His approval rating for the economy was 36%, the same as in the November poll.
The Trump campaign has continued to attack Biden over inflation, which was high during his first years in office but is now at its lowest level since its last peak in 2022.
Consumer prices rose 3.4% from January 2022 to January 2023 and 0.3% from December to January, significantly lower than in previous months. The Fed is expected to keep interest rates high for much of this year as inflation continues to decline.
The Biden administration is trying to sell an economic story.
Treasury Secretary Janet Yellen last week boasted of the U.S. economy’s “historic recovery” since the coronavirus pandemic under the Biden administration.
“Over the past three years, the Biden administration has driven a historic economic recovery,” Yellen said in her opening remarks before the House Financial Services Committee last Tuesday.
“GDP growth is solid and inflation has come down significantly,” he continued. “We have also achieved a healthy labor market.”
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