Will she be Kamala Harris’s downfall in the US election?

Voters in the US are worried about inflation. This is fading away, but could prove fatal for Kamala Harris in the US election.

Washington, DC – Inflation in the US is once again closer to the Fed's target of two percent. Nevertheless, the consequences of inflation, which has now reached up to nine percent in June 2022, could influence the 2024 US election. The indicator is too strongly anchored in the minds of voters. “I think inflation is the most important factor depressing consumer sentiment,” said Chris Jackson of the Ipsos polling institute.

Kamala Harris Achilles heel: Inflation biggest concern ahead of 2024 US election

According to polls, inflation remains one of the most important issues in the presidential election. Almost 50 percent of those surveyed by Ipsos said that inflation is their biggest concern. “Inflation is at the forefront. “What Americans are really concerned about are the costs that they see on a regular basis, for example when they fill up their car at the gas station every week,” said Jackson.

In addition, 56 percent now rate the economic situation in the USA as bad. Many of them say to Ipsos that it is worse than it actually is. The institute therefore speaks of a “vibecession”, i.e. merely a perceived recession in the US economy. The Democrats could therefore also be at a disadvantage in the election campaign because Trump is considered more competent than Harris when it comes to the economy.

Many voters blame Democrats around Kamala Harris for inflation

This is a problem for Kamala Harris in the race before the US election. As the incumbent Vice President, she is part of Joe Biden's administration. Since he took office in January 2021, inflation has risen by around 19 percent. The biggest price drivers are essential goods such as food – and the fuel mentioned by Chris Jackson. During Donald Trump's presidency, prices were, according to ntv increased by 7.8 percent.

Since then, the record value of nine percent in June 2022 has fallen to 2.9 percent in July 2024, bringing it back within the target of two percent. But the issue is still present – as the polls show. Harris' problem: Many blame the Democrats for inflation.

Scapegoats for global crises: Biden administration has only limited influence on inflation in the USA

In fact, the Biden administration has had no influence on some of the causes of inflation since 2022. These include, for example, disrupted supply chains and bottlenecks as a result of the corona pandemic and the rise in energy prices in light of the Ukraine war. In addition, some economists see ntv a strong labor market, which has led to high wage increases.

The monetary policy of the US Federal Reserve could also harm Kamala Harris in her duel with Donald Trump. In order to curb inflation, the Fed has raised key interest rates. Although a reduction in September is now foreseeable, many Americans are still feeling the consequences of the high interest rates, as loans and mortgages have become more expensive. The foreseeable interest rate turnaround is unlikely to have any impact on the US election on November 5.