This November’s presidential election ought to be a doddle for Joe Biden. Fears of recession have receded. More Americans have jobs than ever before. Inflation is on a downward trend. Interest rates will be cut soon. The US economy is comfortably the fastest growing in the G7 group of leading industrial nations. Share prices are at a record high. It is the sort of record Rishi Sunak would die for.
Yet here’s a strange thing. As the prospects for the economy have brightened over the past 12 months or so, Biden’s approval ratings have steadily fallen – from 53% to just under 40%. The polls suggest Donald Trump – who won the support of Republicans in the New Hampshire primary – is on course to return to the White House.
