FT News Briefing Swamp Notes: Is it the economy, stupid?
Feb 10, 2024
The podcast dives into the surprising disconnect between the strong U.S. economy and President Biden's low approval ratings. Experts discuss how traditional beliefs that economic performance drives voter sentiment may no longer hold true. They've noted that cultural and social issues are taking precedence in voter priorities. Additionally, political missteps and missed opportunities in communication are examined, alongside insights from a taxi driver's perspective on economic disparities. They even touch on how the Super Bowl influences public sentiment.
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Booming US Economy
- The US economy is currently booming with low unemployment and wage growth exceeding inflation.
- Job numbers have doubled expectations, with 1.4 million openings per job seeker.
Biden's Lack of Credit
- Despite a strong economy, President Biden isn't receiving credit for the positive changes.
- He achieved a soft landing, lowering inflation without causing a recession or increased unemployment.
Non-Economic Issues
- The 2024 election may not focus on the economy, despite conventional wisdom.
- Issues like migration, border security, and abortion could become central.