Harris closes trust gap with Trump on the economy
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When it comes to the economy, Kamala Harris appears to have closed the "trust gap."
Why it matters: In polling throughout this election cycle, President Biden had been losing on the issue, with voters consistently saying they preferred Donald Trump on the economy.
- Harris seems to have shaken off some of that baggage.
The big picture: The economy is typically an important issue for voters in an election, but it's been especially significant this cycle — as the high cost of living is weighing on people's wallets.
Zoom in: 46% of voters said they trust Harris to handle the economy — the same share as former President Trump, according to a Morning Consult poll conducted in late August and released Thursday morning.
- A separate survey from FT-Michigan Ross, taken after the debate and released on Sunday, shows Harris with a slight edge over Trump when it comes to the economy.
- Voters who watched the debate were even more apt to go for Harris.
Between the lines: This isn't about voters preferring Harris over Trump so much as it is about voters preferring Harris over Biden.
- Her entry in the race has reshaped the way we talk about the economy in this election, says Sofia Baig, an economist at Morning Consult.
- Not many folks are out there throwing around the term Bidenomics anymore.
Stunning stat: 33% of voters told Morning Consult that they believe we're in a recession. Another 28% think we'll be in one next year.
Reality check: While there's no doubt the cost of living has skyrocketed and the labor market has softened, we are not in a recession.
- "The U.S. economy is in good shape. It's growing at a solid pace," Fed chair Jerome Powell told reporters at a press conference yesterday. The rate cut the Fed announced yesterday is meant to "keep it there," he said.
