Donald Trump accused Joe Biden of mismanaging the US economy and failing to address rising inflation, a key issue in the upcoming presidential election. During a debate in Atlanta, Trump claimed that Biden had “destroyed” the economy, which he had left in good shape. Biden countered that Trump had “decimated” the economy during his presidency, and that his own administration had created millions of new jobs.
Inflation has become a major concern for Americans, with a recent poll showing that 46% of adults have confidence in Trump to handle economic issues, compared to 38% for Biden. While inflation surged after Biden took office, it was largely driven by post-pandemic supply chain issues and Russia’s invasion of Ukraine. The Federal Reserve has since raised interest rates to combat inflation, which has eased but remains above its long-term target.
Trump’s economic policies, including tax cuts and tariffs, have been criticized as likely to be inflationary. Biden’s economic record has come under scrutiny, with consumer prices rising 20% since he took office. The outcome of the election and control of Congress will likely impact the direction of economic policy and inflation in the coming years.