U.S. Economy Shows Unexpected Resilience Amid Election Campaign

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

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.