Why banks should beware of ‘Bidenomics’ (quotes Karen)

By  Claire Williams

The White House in the last few weeks has deployed everyone from Treasury Secretary Janet Yellen to First Lady Jill Biden to sell a very specific narrative — that the economy is doing well, and that President Joe Biden is responsible for it. Voters are skeptical — and that might be a problem for banks….That leads to a sizable disconnect between how many likely voters feel about the economy, and how the Biden administration is presenting it, said Karen Petrou, managing partner at Federal Financial Analytics. That’s true not just for Republicans, but for some Democratic voters as well. “I think it is a very dangerous political tactic to try to persuade voters that something they’re experiencing isn’t happening,” she said. “The rhetoric has to change, and he has to recognize the reality of many American households, particularly most likely voters, many of whom are doing worst of all compared to 2016 to 2019.”