Joe Biden and Kamala Harris could not sell voters on the strength of the economy. Now, Donald Trump is poised to enter the White House with booming markets and solid growth. Expect him to reap the political rewards.
The long-term consequences of the highest inflation in four decades are still dragging down consumer sentiment, and Trump fueled that pessimism on the campaign trail by relentlessly arguing that the economy was in a freefall. With the election over, he’s likely to have a much easier job convincing Americans that times are actually pretty good.
“Trump is an extraordinarily effective brander and marketer. He’s just more confident,” said Joseph LaVorgna, who was chief economist for Trump’s National Economic Council. “And confidence is everything.”
The U.S. has been a rare bright spot in the global economy, but Democrats were still unable to generate political momentum from a domestic hiring and consumer spending boom. Politically toxic inflation has been falling for more than two years, gas costs are down and price growth for groceries has dipped well below 2 percent, yet “Bidenomics” and Harris’ plans for an “opportunity economy” failed to resonate with voters.
This article was originally published at Politico