The CNN/SSRS poll also found that just 23 percent of respondents rated economic conditions as good, while 77 percent said conditions were poor. In CNN's poll conducted in January and February, 62 percent disapproved of his handling of the economy, and 37 percent approved. The poll found that 66 percent of respondents disapprove of Biden's handling of the economy and 34 percent approve. Beto O'Rourke's Chances of Beating Greg Abbott in Texas, According to PollsĪ CNN Poll conducted by SSRS and published on Wednesday found that Americans give Biden poor grades when it comes to the economy, and that the situation appears to be worsening for the president.Ex-Trump Adviser Brags About Creating Products Used to Deter Protesters.Stacey Abrams Chances of Beating Republicans in Georgia, According to Polls.Poll tracker FiveThirtyEight, which tracks the president's approval rating based on a variety of polls and its own system of pollster ratings, found that disapproval of Biden stood at 52.5 percent as Thursday, while just 42.2 percent of Americans approved of the job he's doing.
The decline in GDP and high inflation come as President Biden's approval rating remains in negative territory. Nonetheless, concerns about a possible downturn could affect voters' choices. may be heading for a recession amid the tight jobs market and the Fed's attempts to bring down inflation, but Goldman Sachs and UBS both told CNN that a recession wasn't inevitable. However, unemployment has remained low at 3.6 percent and the monthly jobs report on Friday showed the economy added 428,000 jobs in April.ĭeutsche Bank warned last month that the U.S. The Fed's move was expected, as the annual rate of inflation was 8.5 percent in March, the greatest rise since 1981, after months of persistent increases in the price of everyday consumer goods. On Wednesday, the Federal Reserve announced a half percentage point rise in interest rates as the central bank attempts to tackle stubbornly high inflation. Gross Domestic Product (GDP) declined by an annualized rate of 1.4 percent in the first quarter of 2022 - the first time GDP has fallen since the beginning of the pandemic and an apparent reversal from the recent economic recovery. Voters' views on the economy may be a decisive factor in the midterms. If Republicans can retake either the House or the Senate, or both, they will effectively be able to stymie President Biden's agenda for the two years leading up to the 2024 presidential election.
President Joe Biden and the Democratic Party may be facing an economic storm ahead of the crucial 2022 midterm elections, where Republicans are aiming to take control of the House of Representatives and the Senate.
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