President Joe Biden’s approval rating has decreased since a month ago, and is now approaching the lowest point of his presidency.
A recent poll conducted by The Associated Press-NORC Center for Public Affairs Research revealed that the president’s approval rating has dropped to 38%, compared to 45% in February and 41% in January. In July of last year, his ratings had hit their all-time low of 36%, as households in the US felt the impact of rising costs. In recent months, Biden’s approval rating had been slightly above 40%.
There is a large disparity between Biden’s overall approval rating and his economic approval rating. 76% of Democrats approve of his job as President, while 63% approve of his handling of the economy. Conversely, very few Republicans approve of Biden on either front.
Among Democrats, those under the age of 45 have a less positive view of Biden, which has a negative impact on his overall approval ratings. Only 54% of Democrats under 45 approve of the president’s economic leadership, compared to 72% of those over 45. Similarly, 66% of Democrats under 45 approve of Biden overall, compared to 85% of older Democrats.
According to the poll, merely 25% of Americans believe that the national economy is in good shape or that the country is on the right path.
The level of confidence that U.S. adults have in the nation’s banks and other financial institutions has decreased significantly. Only 10% of respondents reported having high confidence, which is a notable decline from the 22% who reported high confidence in 2020.
A majority of the U.S. population is concerned about the government’s regulatory efforts concerning banks and other financial institutions. Specifically, 56% of respondents feel that the government is not doing enough to regulate these entities, while 27% believe the current level of regulation is appropriate, and 15% feel there is too much regulation. The concern about inadequate regulation is shared across political parties, with 63% of Democrats and 51% of Republicans agreeing that the current level of bank regulation is insufficient.
In contrast, the perception of the economy’s current state appears to vary greatly among Democrats and Republicans. While 43% of Democrats view the economy as positive, only 7% of Republicans share this sentiment.
