The suffering that is spreading through the U.S. economy poses a significant threat to the re-election of President Donald Trump in November.
The poverty index, the unemployment rate added to the annual change in the main consumer price index, is expected to be at a record high in November, based on Bloomberg Economics calculations.
Historically, this increase correlated with a loss for the incumbent White House party, and now “the signal has never been stronger in favor of the challenger,” according to the president on Tuesday, the Bloomberg agency, citing economist Andrew Husby.
Since the beginning of this year, the situation has changed markedly. The strength of the economy should have been Trump’s main argument for a second term until the pandemic hit and national blockades to contain the coronavirus plunged the US into recession.