President Joe Biden’s economy has dominated as Americans’ biggest concern for 43 straight weeks, according to a Reuters/Ipsos poll released on Thursday.
Thirty-three percent of Americans are concerned about the economy, ahead of crime (11%), the environment (6%), terrorism (5%) and immigration (5%).
The poll reflects Biden’s leadership on the economy, which has endured high inflation in 40 years, soaring gasoline prices, rising housing costs and shrinking real wages. To combat many of these challenges, the Fed has raised interest rates, which could further slow the economy and push the country into recession.
According to economists at Nomura Holdings Inc., the US economy will be in recession by 2023 due to rising interest rates.
The Ipsos poll also found that Biden’s approval rating had fallen to its lowest rating of 35%. But the poll does not represent the lowest mark of Biden’s presidency. On Sunday, a Civiqs poll showed Biden’s approval rating at 30%.
Nonetheless, Biden’s approval numbers have remained below 50% since the deadly withdrawal from Afghanistan, when 13 American soldiers died and thousands of American citizens were stranded behind enemy lines.
Since the pullout, Democrat support for Biden has dwindled. As of Thursday, just 64% of Democrats endorsed Biden, down from 88% since last July, according to Civiqs. Biden’s approval has fallen from the high of 80 since August.