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U.S. Economy Shows Unexpected Resilience Amid Election Campaign

Despite Positive Economic Data, Public Perception of Biden's Handling of the Economy Remains Mixed

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YouGov
President Joe Biden speaks on his economic plan for the country in Raleigh, N.C., on Jan. 18, 2024.
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Overview

  • The U.S. economy has shown unexpected resilience, growing at a strong 3.1% pace between the fourth quarter of 2022 and the same period last year, with cooling inflation and a strong job market.
  • Treasury Secretary Janet Yellen has praised the recovery as the most equitable on record, with gains for middle-class Americans and rapid declines in unemployment rates for Black and Hispanic Americans.
  • President Biden has received a presidential endorsement from United Auto Workers (UAW) President Shawn Fain, amid a wave of pro-union sentiment.
  • Despite positive economic data, polling on Biden’s handling of the economy has been less favorable, though it is starting to show signs of improvement.
  • Former President Donald Trump, the front-runner for the GOP nomination, has argued that Biden’s economic policies are failing and predicted an economic crash in the next 12 months.