US inflation and a potential recession could be poison to Vice President Kamala Harris’ presidential campaign.
According to Politico, Monday’s stock market crash was a reminder that Harris’ “honeymoon” cannot last forever. Julia Nikhinson – Pool via CNP
United States Democratic Party nominee for Vice President Horrible Harris rising campaign popularity may come to an end due to a possible recession, say Politico and the Telegraph, among others.
Turbulent markets and a looming recession could be poison to Harris’ campaign because the situation gives the Republican presidential candidate For Donald Trump and vice presidential candidate JD Vancelle the opportunity to tease Harris about the financial outlook and convince them that they would handle financial matters better.
Likewise Jonas Goltermann from the London-based economic research firm Capital Economics warns that the incumbent in the presidential race is “hooked on the economy”, which pulls in two directions. If the economy was doing well, Harris would be incensed by it, but now the situation is the opposite.
Light at the end of the tunnel
According to Goltermann, there is hope in Harris’s situation because Harris has not served as president. In that case, according to opinion polls, he will not be blamed for inflation and a possible recession in the same way as the US president Joe Bidenia.
Democrat strategist Mike Luxin according to Harris can play two ends in the field of economy. Harris can get credit as vice president for good things like lowering the price of insulin and funding infrastructure. At the same time, Harris can distance himself from “evil”.
– He [Harris] is a fresh face, so he won’t get the same excuses as Biden, says Lux.
Democrats believe that the poor employment situation and plunging stock market could create a weak economic outlook, but will give Harris an opportunity to underline his economic intentions.
– The direction of the economy will certainly cause instability, but I believe that the solid US economy will survive this small noise, the Democratic strategist Simon Rosenberg.
According to Rosenberg, the Democrats must now be able to create a contrast in debates between the strong economic policy of the Biden era and the catastrophic economic policy of the Trump era.
Black Monday
At last Monday’s stock market opening, the S&P 500 index plunged 3.4 percent and the technology-driven Nasdaq plunged 4.3 percent. At the same time, Wall Street’s “fear meter” rose to a four-year record high, and money markets are now betting on an emergency operation by the US central bank, the Fed.
At the same time, unemployment fell by 0.2 percentage points to 4.3%, which triggered the economic alarm known as Sahm’s rule. According to Inderes, the rule predicts a possible recession when the three-month moving average of the unemployment rate rises during the year by at least half a percentage point from the lowest reading.
CEO of British financial advisor BRI Wealth Management Dan Boardman-Westonin according to which a recession is very likely.
– The US market has been falling gently for some time, but now the situation seems to have completely changed, says Boardman-Weston.
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