Trump takes 11-point lead over Biden on economy: Poll
Former President Trump has a large lead over President Biden in a new poll released by the Financial Times that shows him ahead by 11 points on the question of who would best handle the economy, often the key issue in a presidential election.
About 42 percent of respondents in the poll released Sunday said Trump would be the best steward for the U.S. economy going forward, while 31 percent chose Biden. The remaining were undecided or said neither candidate.
The figure underlines a dilemma for Biden, who is presiding over historically low unemployment and a booming stock market but seemingly has yet to convince voters of his economic stewardship.
The Financial Times poll showed some evidence of rising positive sentiment on the economy.
About 27 percent of respondents said the U.S. economy is “excellent” or “good,” up from 21 percent in a poll four months ago. Similarly, 47 percent of respondents said they can “comfortably” pay their expenses, up 3 percentage points from November.
But that sentiment has not translated into approval for Biden. His 36 percent approval on the economy is the same as it was in the November survey.
The Trump campaign has continued to hit Biden over inflation, which was high during his first years in office but has now reached its lowest levels since it last peaked in 2022.
Consumer prices rose 3.4 percent between January 2022 and 2023, and 0.3 percent between December and January, a significant decrease over months prior. The Federal Reserve is expected to keep interest rates high for much of the year as inflation continues to fall.
The Biden administration has sought to sell its story on the economy.
Treasury Secretary Janet Yellen last week boasted about the “historic recovery” of the U.S. economy since COVID under the Biden administration.
“Over the past three years, the Biden Administration has driven a historic recovery,” Yellen said in opening remarks before the House Financial Services Committee last Tuesday.
“[Gross domestic product] growth is strong, and inflation has declined significantly,” she continued. “We have also achieved a healthy labor market.”
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