An increasing number of Americans are unhappy with how President Biden is handling the economy compared to when the president first took office, according to a new poll.
The ABC News/Washington Post poll released on Sunday shows 74% of Americans say the economy is in bad shape, up from 58% in the spring of 2021.
As the U.S. Federal Reserve increases interest rates to combat record-high inflation, 84% of respondents called the economy a top issue, while 74% said the same for inflation going into the midterm elections in November.
Meanwhile, 62% say abortion is a top issue.
According to the poll, Republicans hold a 16-point lead over Democrats in trust to handle the economy and a 19-point lead in trust to handle inflation.
Fears of a recession loom after the U.S. Federal Reserve last week raised interest rates in a move to curb decades-high inflation.
Last week, the Fed lifted its benchmark rate, which affects many consumer and business loans, to a range of 3% to 3.25%. It was near zero at the start of the year. The Fed also released a forecast suggesting its benchmark rate could be 4.4% by the year’s end, a full point higher than envisioned in June.
On Monday, the average price for a gallon of regular gasoline in the U.S. climbed for the sixth-straight day to $3.725 after declining for nearly 100 days in a row during the summer driving season.
The Associated Press contributed to this report.
[Written in collaboration with other media outlets with information from the following sources]
