Biden Approval Rating Approaches Lowest Point After US Bank Collapses

President Joe Biden's popularity has fallen marginally since a month ago as his administration struggles to keep the US economy sturdy after two bank failures and rising inflation.

A recent survey conducted by The Associated Press and the NORC at the University of North Carolina found that Biden approval rating has risen and fallen by single digits over the last several months.

The latest survey found that the Joe Biden approval rating has dropped to 38% from 45% in February to 41% in January, AP News reported. In July of last year, when the full impact of increasing gas, food, and other expenses reached US consumers, his approval rating fell to 36%, a new low for his administration.

Biden approval rating has been over 40% in recent months.

US Bank Collapse, Economic Woes Impact Joe Biden Approval Rating

Several high-profile bank failures have shaken the US financial industry and risked a larger economic disaster, prompting the Biden administration to rush to cope with the situation. The financial slides occur as the federal government tackles persistently high inflation, The Hill reported.

Just 31% of 1,081 Americans polled are happy with how President Biden is handling the country's economy, a number that hasn't budged in the last year. A sampling error of +/- 4% was present in the survey.

Joe Biden is anticipated to declare his reelection run by this summer, according to interviews with survey respondents, although the public seems to have mixed opinions about him.

The Biden administration is trying to stay afloat despite looming economic fears as the president mulls over whether to reveal his 2024 US Presidential Election plans, per The Washington Examiner.

If Joe Biden runs, ex-President Donald Trump and anticipated candidate Gov. Ron DeSantis (R-FL) will push him even harder.