Angry voters slammed by higher prices and scarred by two years of fighting the pandemic are poised to punish Democrats in midterm elections, according to some of the leading experts in consumer sentiment and behavior
President Joe Biden delivers remarks on the jobs report for the month of March on April 1. The U.S. economy gained an additional 431,000 jobs in March and the unemployment rate fell to 3.6 percent. | Anna Moneymaker/Getty ImagesThe professionals who track American attitudes toward the economy say they can see the trouble coming.
The widely watched University of Michigan consumer confidence survey recently touched its lowest level in almost 11 years. An Associated Press/NORC survey showed that almost 70 percent of Americans think the economy is in poor shape, and 81 percent of those in a poll released by CNBC see a recession coming this year.
Moody’s is working on its model for the 2022 midterms, and Zandi said that as of now it’s likely to show a very tough path for Democrats to hold either the House, where they have a razor-thin margin, and the Senate, which is split 50-50. And the president will point to strong positives in the economy including continued strong job growth, a large number of available positions, higher wages and a jobless rate of, a pandemic low. Most of those numbers are far better than economists were predicting a year ago.
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