Ahead of the 2024 presidential election, Donald Trump has seen his lead over Joe Biden on economic trust shrink, according to a recent poll.
What Happened: Trump’s advantage among registered voters on economic trust fell to four points in June, down from 11 points in February, Financial Times reported on Monday. The survey, conducted for the Financial Times and the University of Michigan's Ross School of Business, took place from May 30 to June 3.
This polling period followed Trump’s criminal conviction in New York over "hush money" payments to Stormy Daniels. The results showed 41% of registered voters trust Trump on the economy, while 37% trust Biden. Seventeen percent trust neither.
Despite Biden’s seven-point gain since February, he continues to face low approval ratings on economic management. Voters have consistently ranked the economy as their top issue heading into November.
The poll also highlighted ongoing concerns about inflation, with about 80% of respondents citing it as a major financial stressor. The Federal Reserve is expected to maintain high borrowing costs to control prices.
Biden’s numbers have improved with five months left before election day. The president has intensified his criticism of Trump, recently urging voters to defend democratic rights during a D-Day speech in France.
The two candidates are scheduled for a live televised debate later this month in Atlanta, Georgia.
Why It Matters: The narrowing gap in economic trust between Trump and Biden comes amid a complex backdrop. A poll by Bloomberg/Morning Consult in May revealed that 51% of respondents felt financially better off during Trump’s presidency, despite the Biden administration’s efforts to drive economic recovery.
Additionally, a shift in consumer sentiment was noted in late May, as the Conference Board’s Consumer Confidence Index rose to 102, indicating a potential boost for Biden. However, inflation remains a key concern, with April’s inflation data showing year-over-year growth still above 3%.
Trump’s recent criminal conviction has also impacted his support. According to a New York Times/Siena poll in early June, Trump lost some support but still holds a slight lead over Biden. This dynamic is crucial as both candidates prepare for the upcoming debate in Atlanta.
Photo by Jonah Elkowitz on Shutterstock
This story was generated using Benzinga Neuro and edited by Pooja Rajkumari
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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