President Joe Biden’s economy has dominated as the greatest concern among Americans for 43 straight weeks, according to a Reuters/Ipsos poll released Thursday.
Thirty-three percent of Americans are worried about the economy, topping crime (11 percent), environment (6 percent), terrorism (5 percent), and immigration (5 percent).
The polling reflects Biden’s leadership on the economy, which has shouldered 40-year-high inflation, soaring gas prices, increased housing costs, and reduced real wages. To combat many of these challenges, the Fed has increased interest rates, which may further slow down the economy and plunge the nation into recession.
According to economists at Nomura Holdings Inc., the U.S. economy will be in a recession by 2023 due to interest rate hikes.
The Ipsos poll also found that Biden’s approval rating fell to its lowest mark of 35 percent. But the poll does not represent the lowest mark of Biden’s presidency. On Sunday, Civiqs polling showed Biden’s approval rating was at 30 percent.
Nevertheless, Biden’s approval numbers have remained below 50 percent since the deadly Afghanistan withdrawal when 13 U.S. troops died and thousands of American citizens were left stranded behind enemy lines.
Since the withdrawal, Democrat support has reduced for Biden. On Thursday, just 64 percent of Democrats approved of Biden, down from 88 percent since last July, according to Civiqs. Biden’s approval has dropped from the high 80s since August.