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The number that sums up Biden’s biggest economic problem

The number that sums up Biden’s biggest economic problem

While price rises have cooled from more than 9 per cent to 3.4 per cent, household budgets have not recovered since Biden took office.

The US sharemarket has just set a record, the inflation rate has cooled, unemployment remains just below 4 per cent, and GDP is steady. But in two of the most crucial election battleground states of America, those statistics don’t mean much.

Polling in Nevada and Georgia – the states which held the narrowest of 2020 election margins – show former president Donald Trump is 13 points and 10 points respectively ahead of President Joe Biden.

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Matthew Cranston
Matthew CranstonUnited States correspondentMatthew Cranston was The Australian Financial Review’s United States correspondent.

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Original URL: https://www.afr.com/world/north-america/the-number-that-sums-up-biden-s-biggest-economic-problem-20240517-p5jed4