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UPDATED 7:07 AM PT – Monday, June 20 2022
A new poll has revealed President Joe Biden’s approval rating fell to a new low amid expectations of economic recession. According to data collected by Civiqs, Biden’s job approval fell to 32 percent in June, which down from 34 percent in May. This marks its lowest level since the Democrat took office last year.
A whopping 57 percent of respondents said they do not approve of Biden’s job performance. In addition to this, the President’s net approval ratings are now negative in 48 states, which is up from 47 states last month with the exception of Hawaii and Vermont. Biden now has a national net approval rating of -25 and most respondents are concerned about his poor handling of the economy.
Percent of Ds who agree: “When President Biden took office, I thought he was going to do more to help people like me.”
Democrats, total: 44%
Democrats, age 18-34: 62%https://t.co/fBYvhAakeB
— Civiqs (@Civiqs) April 28, 2022
Meanwhile, Biden’s officials have continued to downplay risks of an economic downturn, despite economists warning of 72 percent odds of a recession. In an interview Sunday, Treasury Secretary Janet Yellen claimed consumer spending is strong and it supports economic growth, despite shrinking household incomes.
“It’s natural now that we expect a transition to steady and stable growth, but I don’t think a recession is at all inevitable,” Yellen asserted.
Economists have said rising federal interest rates and runaway inflation are undermining financial well-being of Americans. In the meantime, investors have said a recession is likely. According to Bloomberg Economics models, the odds of this happening is now at 72 percent.
The recession is here:
-The stock market sold off
-Almost NO small business confidence
-Zero GDP Growth
-Inflation at 8 to 10 percent
Brace for impact!
— Stephen Moore (@StephenMoore) June 17, 2022
Despite all the warnings, Yellen also called to remove some tariffs on China that were imposed by former President Donald Trump in 2018 as the Biden administration claims such restrictions serve “no strategic purpose.”