During a portion of an interview with CNN set to air on Wednesday’s broadcast of” Out Front” that was aired on Wednesday’s broadcast of” The Lead”, President Joe Biden responded to a question on increasing home costs, falling real income, economic growth, and consumer confidence numbers by stating that he’s “already” turned the economy around and most “people think they’re in good shape economically, they think the nation’s not in good shape, but they’re, personally, in good shape”.
Guest Erin Burnett,” But, when you talk about the market, of course, it is, by way, the most important issue for voters. It’s even true right now, Mr. President, that citizens, by a large margin, believe Trump more on the market. They say that in elections, and part of the reason for that may be the figures, and you’re informed of many of these, of training. The cost of buying a home in the United States is triple what it was when you look at your regular costs from before the pandemic, real income, when you account for inflation, is really down since you took office, economic growth last week, way short of expectations, consumer confidence, probably no surprise is near a two- year low. With only six weeks until Election Day,. Do you worry that “you have no time to turn that around”?
Biden responded,” We’ve presently turned it round. Look at the Michigan study where 65 % of the American people think they’re in good shape financially, they think the government’s not in good shape, but they’re, physically, in good shape. The poll results have always been inaccurate. How many people do you need to contact to get a response when you run a ballot on CNN? The notion that we’re in a situation where items are so terrible, that we’ve made more work, that people can get good-paying work is a myth. And the last I saw, the mixture of the prices, the cost of inflation, all those things, that’s truly troubling to people, with good reason. In order to reduce the cost of renting and increase the number of properties that are available, I’m working very hard. Let me say it this way, when I started this leadership, people were saying there’s going to be a decline in the economy. The world’s market is the strongest in this regard. Let me say it once, in the world”.
Burnett next said,” Although GDP last week was considerably short of expectations”.
Biden responded,” No it was n’t. Look, GDP’s still grow]ing ] — look at the response of the markets, overwhelmingly positive, overwhelmingly positive. And one of the reasons why people are optimistic about the Fed’s ability to respond is that it wo n’t be as strong as it was in the past.
Burnett then cut in to state,” They hope they’re going to get a price cut”.
Biden agreed with the rate-cut analysis.
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