Since Biden took office, the S&P 500 stock index has risen a healthy 40%, capped by a five-month rally that kicked off last October and is still underway. At the same point in Trump’s presidential term, the S&P was up just 13%.
Except that Trump himself takes credit when stocks go up, even when he’s out of office. While he was president, Trumpwhen stocks rose, attributing the gains to his own policies. Earlier this year, three years after leaving office, Trump even claimed thatfor his stock market boasts, arguing that Trump was playing up gains for the investor class that ordinary working people didn’t get to enjoy.
There’s no sign, however, that voters are rewarding Biden for a roaring stock market or for a relatively healthy economy, either. Hisin 2021 and 2022 as inflation was worsening, but it hasn’t recovered even though inflation is nearly back to normal levels. Many Americans complain that most of the price hikes in food, rent, and staples are still there, even if the overall rate of inflation has dropped.
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