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Free AccessNew Focus On Immigration Blunts Biden's Gains On Economy
A new survey from the Wall Street Journal has found that, although voter views on the economy are improving, President Joe Biden is suffering in a head-to-head matchup with former President Donald Trump due to rising concerns over immigration.
- WSJ notes: "Some 31% of voters in the survey said the economy had gotten better over the past two years, during the majority of Biden’s tenure, a rise of 10 percentage points from a Journal poll in December. And 43% said their personal finances are headed in the right direction, a 9-point increase from the prior survey."
- The Journal asks, "whether an improving economy will lift Biden’s re-election prospects against former President Donald Trump. The answer so far appears to be that it is helping Biden just a bit—but also that more voters are turning their attention instead to immigration, a perilous issue for the president."
- Democratic pollster Michael Bocian said, noting that more respondents cited immigration (20%) than the economy (14%) as the most important issue to their vote: “It’s not like they’re saying to us, ‘The economy is wonderful; that’s why we must re-elect Biden.’ They’re just not as concerned about it. So, they’re turning to other issues, which is net good for Biden at the end of the day. But then he has to go win those issues.”
Figure 1: Voter Views on Economy Over Two Years
Source: Wall Street Journal
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.