In a recent poll conducted in January from the outlet, Reuters shows President Biden only stands at a 38% approval rating which is down from the 40% back in December. The online poll was conducted Friday to Sunday with a total of 1,019 United States adult respondents. According to the report, Biden's approval from previous polls has remained below 50% since August 2021.
Breaking Down The Poll
In a further breakdown of the poll, many respondents are concerned with immigration with an increase to 17% from 11% back in December. To add on, immigration appears to be a concern for 36% of Republican respondents while 29% cited the economy. In addition, the economy remained an overall concern for respondents with a 22% response. The report also states that two-thirds of respondents which includes 47% of Democrats believe that the country is on the wrong track.
However, Biden might see the concerns regarding the economy steadily drop along with inflation. In two reports from HNGN both the IMF and the United States Federal Reserve have both forecasted a positive turnaround for both the United States and the Global economy. This does not guarantee anything as proven with the lengthy timeline it took for economies around to globe to see a recovery. These current standing have also drawn some concerns within the president's party as Biden prepares for the upcoming election in November this year. In his ongoing campaign for re-election Biden recently visited the swing state of Florida and participated in two fundraisers.
HNGN recently reported that the International Monetary Fund's (IMF) optimistic outlook on future economic growth, signaling positive prospects for both the United States and China, the world's largest economies. IMF's chief economist, Pierre-Olivier Gourin, highlighted the global economy's resilience, noting a steady decline in inflation and sustained growth, suggesting a heightened chance of a 'soft landing.'
However, amidst the favorable forecast, Gourin cautioned about potential challenges ahead, particularly citing the ongoing conflict in the Red Sea disrupting supply routes and potentially impacting commodity prices and supply chains. Despite these concerns, the IMF attributes its positive outlook to robust public and private spending, increased labor force participation, and the restoration of supply chains, leading to reduced energy and commodity prices.
IMF's projections indicate a global growth rate of 3.1% for the current year, a slight increase from previous estimations, with growth expected to remain unchanged at 3.2% in 2025. However, global trade forecasts fall below historical averages due to the imposition of new trade restrictions, with expected growth rates of 3.3% and 3.6% for 2022 and 2025, respectively. Additionally, advanced economies are anticipated to experience a decrease in average inflation to 2.6%, aligning with central bank targets of 2% by 2025, reflecting overall positive economic indicators tempered by global trade uncertainties.
