CNN’s latest polling of Americans shows that most Americans now anticipate further bad news for the US economy, and that only 23 percent believe things are even remotely fine, as the Federal Reserve raised interest rates in an effort to stop inflation.
According to the poll, 50 percent of Americans believe the economy is the most important issue of the moment. Second place in ranking was the Russian invasion of Ukraine, and that number came in at only 14 percent.
The outlet’s political Director David Chalian broke the bad news to Jake Tapper on Wednesday.
“Biden’s handling of that number one issue, only at a 34 percent approval rating on the economy, 66 percent disapprove, and that number there, Jake? That’s been going down since our poll earlier this year. He was at 37 percent approval on the economy, now he’s down to 34 percent,” explained Chalian.
55 percent of Americans say Biden’s economic policies have worsened conditions in the sector for the country. President Joe Biden made a speech earlier Wednesday where he attempted to highlight the lessening government deficit as a counter-argument to inflationary woes.
CNN’s latest polling showed that only 23 percent of respondents believe economic conditions are even “somewhat good.” The outlet says this number was at 54 percent in April 2021, with it only ever reaching this low of a number back in November 2011, when it was at 18 percent.
The economic issue according to the poll results shows that 54 percent of Democrats agree with 94 percent of Republicans and 81 percent of Independents that America’s current economic status is “poor.”
This isn’t the first direct admission of poor performance from CNN when it comes to the Biden administration. Last month, the outlet’s polling expert stated it was a disaster that only 33 percent of Americans approved of Joe, according to a Quinnipiac poll.
Treasury Secretary Janet Yellen admitted in a Wall Street Journal interview that the American Rescue Plan under the Biden administration did in fact fuel the inflation crisis.
In related news on Wednesday, the Federal Reserve raised interest rates by half a percentage point in an effort to combat inflation. “Inflation is much too high, and we understand the hardship it is causing, and we’re moving expeditiously to bring it back down,” remarked Fed Chairman Jerome Powell.