Perceptions of the U.S. Economy and Bidenomics
A majority of Americans think the U.S. economy is heading in the wrong direction due to Bidenomics, despite experts saying the economy is relatively strong compared to other Western countries. Inflation remains a concern, but the labor market and wages are growing. Americans' spending habits and perceptions of the economy are influenced by the lingering effects of the pandemic and political polarization.
Key Points
- Inflation lower but still a concern
- Labor market remains strong
- Americans' spending habits influenced by pandemic experiences
- Political polarization affects economic perceptions
Pros
- U.S. economy is doing relatively well compared to other Western economies
- Strong labor market and wage growth
- Stimulus measures helped prevent a severe recession
Cons
- Negative perceptions of the economy among Americans
- Inflation concerns
- Polarization affecting economic perceptions