What Would the Economy Look Like Under a Second Biden Term?
We could do worse.
President Biden is campaigning on four more years of yummy stew. A lot of voters are saying, “I like you, but I don’t like your stew.” The performance of the U.S. economy should be a winning issue for Biden. I don’t know what the next half year holds in store, but as of now, unemployment is low and inflation, while still elevated, is way down from its 2021 peak. Economic growth is so strong that the Federal Reserve is putting off plans to lower interest rates. Biden can’t credibly promise to turn things around — to make things much better in the coming term — because they’re already good by standard measures. It’s just that many voters don’t see it that way.
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