Remarks
How the US Economy Is Doing Depends on Your Politics
Consumer sentiment was once a reliable predictor of election outcomes. Not anymore.
The US Capitol in Washington.
Source: Getty Images
This article is for subscribers only.
The way Americans feel about the economy is now largely determined by party affiliation. During Donald Trump’s administration, consumer sentiment plunged among Democrats and surged among Republicans. When Joe Biden was elected, opinions reversed virtually overnight, despite little empirical change in the economy. This partisan split far exceeds differences by income, age and education, and it persists despite historic lows in unemployment and easing inflation.
Democrats and Republicans largely agree: The economy is America’s main policy concern.