Economic Growth Not Enough for Biden's 2024 Bid Amid High Inflation

Despite US Economy Outperforming Europe, Consumer Sentiment Declines as Prices Rise

Despite the US economy growing at an annualized rate of 4.9% in the third quarter of 2023, polls show voters prefer Donald Trump over Joe Biden on economic issues.
Inflation remains a concern, with food prices having risen 24% since the start of the pandemic and energy prices up by 37%.
Consumer sentiment is starting to decline, despite the US economy outperforming Europe and the median household wealth rising by 37% between 2019 and 2022.
Economists warn that Biden cannot rely on the state of the economy for his 2024 re-election bid, as prices and inflation remain high.
Wages have grown fastest for workers in the lowest-paid rungs since the pandemic, a trend that is atypical and has been a boost for lower-income workers.