White House Says Rise In Consumer Confidence Shows Support For Bidenomics

President Biden's Chief of Staff Jeff Zients has flagged an article from Axios on Twitter showing that consumer confidence in up across a range of metrics, stating: "How are the American people feeling about Bidenomics? 'sentiment is improving for middle and lower-income groups, too — groups that are still seeing strong wage gains.'"

• Axios: "The rally in consumer sentiment [...] is looking pretty broad... This upswing has been building all year as inflation cooled. It's visible across income groups — and across different national surveys measuring consumer attitudes."
• According to Morning Consult, consumer confidence hasn't been this high since December 2021.
• Former Treasury Secretary Larry Summers warned yesterday that the “manufacturing-centred economic nationalism” of Biden’s economic agenda is “increasingly dangerous.”
• Summers: "The main challenge facing the U.S. economy is rising costs, not a lack of jobs… raising red flags when the administration touts its industrial policy achievements in terms of the employment opportunities they’ll provide at home.”
• Opinion polling continues to show that voters are unconvinced by President Biden's agenda, with Biden's economic performance proving the strongest drag on his approval.