78% of Americans say the economy is on the wrong track, per Fannie Mae.
1 in 2 Americans say their overall financial situation is worse now than it was before Biden was elected, per Bankrate.
Since the November 2020 presidential election, Americans have encountered numerous challenges in recovering from the economic impacts of COVID-19. These include surging inflation, increasing interest rates, and wages that fail to keep pace. A recent survey by Bankrate reveals that 50% of U.S. adults feel their overall financial situation is worse than it was three years ago, aligning with the timeframe of the November 2020 general election.
78% of Americans say the economy is on the wrong track
11/16/2023
These economic hardships are expected to significantly influence votes in the 2024 presidential election, with 89% of Americans stating that handling the economy will be a crucial factor in their voting decisions. Interestingly, discussions around President Joe Biden's impact on the economy have been divisive. Approximately 67% of Republicans and 59% of Independents believe their personal financial situation has deteriorated since November 2020, while only 31% of Democrats share this sentiment.
Regardless of their political affiliation, Americans are prioritizing the economy when casting their votes in 2024. Bankrate's findings indicate that over two-thirds of Americans believe their cost of living has worsened since 2020. Specifically:
- 50% state their overall personal financial situation has declined since November 2020.
- 26% mention their personal finances are relatively unchanged.
- 21% report an improvement in their financial situation.
As the 2024 election approaches, the economy remains a focal point for voters. Bankrate Senior Economic Analyst Mark Hamrick emphasizes the significance of economic issues, particularly the cost of living and the trajectory of inflation, which will likely influence voter sentiments leading up to the election. The Federal Reserve's guidance on interest rates adds complexity to this economic landscape.
Read more: https://unusualwhales.com/news/1-in-2-americans-say-their-overall-financial-situation-is-worse-now-than-it-was-before-biden-was-elected
DOJ is investigating into Coinbase, COIN, customer data theft
5/19/2025 10:40 PMTrump signs Take It Down Act, criminalizing deepfake and revenge porn
5/19/2025 10:36 PMMoody's: Fannie Mae downgraded to AA1, Outlook stable
5/19/2025 10:34 PMThe average 30-year mortgage rate is now above 7%
5/19/2025 10:29 PM
Stay Updated
Subscribe to our newsletter for the latest financial insights and news.
+With Unusual Whales
Get the best broker for options trading and earn Unusual Whales discounted! in cash with an eligible account deposit at tastytrade. Get an Unusual Whales bonus when you deposit $2000. Offer expires 3/31/25. Certain restrictions, terms and conditions apply.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.