Kamala Harris: Why these economic indicators could mean trouble for Donald Trump?

Kamala Harris has been ahead in almost all opinion polls since Joe Biden endorsed her in the 2024 US presidential election. According to media reports, this is mainly due to the enthusiasm she has generated among US voters. But now economic indicators are being discussed, Donald Trump has targeted the Vice President for rising unemployment, and she has stated that she will ban food price increases if elected. So will economic factors help the likely Democratic nominee? Or will the Republican nominee be able to shake up her winning formula by taking the “America First” and “Make America Great Again” (MAGA) tirades to new levels?

Economic factors

Speaking to MarketWatch, Justin Begley, economist at Moody's Analytics, said economic factors such as changes in household incomes, mortgage rates and consumer confidence would play a more important role than political factors. The media also reported that inflation-adjusted household income could favor Kamala Harris. Inflation-adjusted incomes were found to have increased in the states of Georgia, North Carolina, Nevada, Michigan, Pennsylvania and Wisconsin. Arizona is the only state where real incomes fell in the last quarter.

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Low unemployment rates in swing states

The same is true of unemployment, another economic factor, which is below the national average of 4.3% in every swing state. Nevada is an exception, with an unemployment rate of 5.2%. On the other hand, the unemployment rate has been rising across the country and could hurt the Democratic candidate.

Low gasoline prices and mortgage rates help Harris

Gasoline prices are the other major factor. They have fallen in the US over the past year, falling to $3.44 per gallon on August 16 from $3.86 per gallon in August last year. Mortgage rates have also fallen after a sharp rise triggered by the Federal Reserve's rate hikes to curb inflation.Also Read: Free Live Streaming of Manchester United vs Fulham in Premier League: Kick-off Time, How to Watch Man Utd Match?

FAQ

How will inflation help Kamala Harris in the swing states?
Inflation-adjusted incomes were found to have increased in the states of Georgia, North Carolina, Nevada, Michigan, Pennsylvania and Wisconsin. Arizona is the only state where real incomes fell in the last quarter.

What is the current price of gasoline in the US and how will it help Kamala Harris?
Low gasoline prices and mortgage rates help Harris
Gasoline prices are the other major factor. They have fallen in the US over the past year, falling to $3.44 per gallon on August 16 from $3.86 per gallon in August last year. Mortgage rates have also fallen after a sharp rise triggered by the Federal Reserve's rate hikes to curb inflation.