President Joe Biden has benefited from strong growth in economic output and jobs, but high inflation and interest rates still weigh on his approval ratings.
Some major economic statistics indicate that the health of the economy is strong. The jobs report for March, for instance,the labor market is still expanding rapidly and unemployment is very low, by historical standards, at 3.8%. Gross domestic product grew at a robust 3.4% annualized rate in the fourth quarter of 2023, adjusted for inflation, andThe glaring explanation for economic dissatisfaction is the high inflation of the past few years.
“People don’t feel GDP numbers, they don’t feel jobs numbers, especially when they already have one or can find one, but they do feel inflation numbers — they see it in the grocery prices, they see it in their interest rates on their mortgages,” Casey Burgat, legislative affairs program director at George Washington University, told theThe average rate on a 30-year fixed-rate mortgage, for example, has risen from 2.77% when Biden was inaugurated to 6.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Biden privately in 'rivalry' with Obama, former president's staff predicted Biden 'would suck as president'President Biden compares himself to former President Obama in private as part of a years-long “rivalry' between the two men, a new report reveals.
Baca lebih lajut »
Strong job numbers remind voters how President Biden has cleaned up Trump’s economic messThis is additional taxonomy that helps us with analytics
Baca lebih lajut »
UAW President touts President Biden’ union engagement as motive to have his backThis is additional taxonomy that helps us with analytics
Baca lebih lajut »
RESULTS: President Biden, former President Trump win Arizona Presidential Preference ElectionBoth Biden and Trump reached the threshold to become their party's respective nominees
Baca lebih lajut »
President Biden, 3 former president visiting NYC; Midtown gridlock expectedIt will be the first time Biden, Obama, Clinton, and Trump are in Manhattan at the same time since 2021.
Baca lebih lajut »