CNN data experts are delving into the crosstabs of recent polls evaluating a Trump-Biden rematch, revealing the incumbent’s complete inability to maintain support from key voting blocs.
Harry Enten analyzed a significant shift of black voters away from President Joe Biden in the latest New York Times/Siena poll. The results upended the political landscape, showing former President Donald Trump leading his Democratic rival by substantial margins in nearly every swing state. Enten explained that some of these results are due to a historic number of black voters now backing Trump.
“22% for Donald Trump [among Black voters]. Where was Donald Trump at this point four years ago? He was just at 9% of the vote, so he’s seen more than a doubling in support among African-Americans,” he said, adding that Biden’s lead has shrunk to +37 from +72 four years ago. “My goodness, gracious! If this held through the general election… this would by far be the best performance for a Republican candidate in a generation, two generations, probably since 1960 and Richard Nixon against John F. Kennedy.” He adds: “It’s quite a troubling sign for the Biden campaign.”
WATCH:
“Absolute Disaster” – CNN analyst Harry Enten sounds the alarm for the Biden campaign as Trump pulls farther ahead in battleground states. pic.twitter.com/5176s5Es6l
— USA Features Media (@UsaFeatures) May 13, 2024
The Bureau of Economic Analysis reported on Tuesday that inflation, measured by the producer price index, increased to 2.2% for the year ending in April. This marks the third consecutive rise in the headline inflation rate, contrary to the trend desired by the Federal Reserve and serving as a cautionary indicator for President Joe Biden as most Americans consider the economy and their personal finances the top issue heading into the 2024 elections.
The majority of economists had predicted that annual inflation would rise by this margin, aligning with expectations. However, on a month-to-month basis, the price index surged by 0.5%, surpassing initial forecasts — news that will not bode well for Biden’s reelection, as ‘the economy’ has become the number one issue of concern for a majority of voters.
“Net, net, inflation at the producer level is back on the front burner this month and consumers are sure to feel the heat as higher production costs will feed into the inflation they see in the goods and services they buy,” said Chris Rupkey, chief economist at FWDBONDS, the Washington Examiner stated.
The core Producer Price Index (PPI) inflation, which excludes volatile food and energy prices, increased to 2.4%, in line with expectations. The Federal Reserve has raised its interest rate target to a range of 5.25% to 5.50%, the highest level since the dot-com bubble at the turn of the century.
Recent inflation reports have surpassed expectations, with the consumer price index climbing to 3.5% in March. Due to these higher-than-anticipated inflation figures and the resilience of the robust job market, many investors started to anticipate that the Fed would delay rate cuts until after the November election.
Disclaimer: This article may contain commentary which reflects the author’s opinion.