No matter what the new president says, the facts show that Joe Biden left America in better economic shape than he found it.
"Biden inherited an economy that was flat on its back because of the pandemic, and he's bequeathing an economy that's flying high," said Mark Zandi, chief economist at Moody's Analytics. "Having said that, there are blemishes in the minds of many Americans ... They feel ripped off."
The economy rebounded strongly from the COVID shock, but the U.S. continues to grapple with a cost-of-living crisis and spiraling federal debt.
Biden oversaw fundamental shifts in economic policymaking away from the neoliberal consensus. Particularly, he junked the notion that governments must err on the side of higher-than-necessary unemployment, so that employers can access a cheap pool of labour and discipline existing workers with the threat of easy replacement.
The 46th president of the United States is bringing his time at the White House to a close with the S&P 500 SPX up over 55% since he took office on Jan. 20, 2021. The Dow Jones Industrial Average DJIA advanced more than 39% over the same period, while the tech-heavy Nasdaq Composite COMP jumped nearly 46%, according to Dow Jones Market Data.
If public opinion polls are the guide, Joe Biden has been the worst president since Richard Nixon. Here's why that may be true.
President Joe Biden had good news to deliver in the final jobs report of his administration, which saw jobs growth that defied expectations. Speaking from the Roosevelt Room in the White House on Friday evening, Biden touted the "transformational progress" the economy has made under his watch.
President Joe Biden recently made several false and inaccurate claims to defend his controversial decision to pardon his son, Hunter Biden.
On an annualized basis, Biden’s Dow performance is slightly below the 50-year average, but higher than the average among 20th and 21st-century Democratic presidents. Among one-term presidents, the Dow’s performance under Biden is the worst since Jimmy Carter.
The super-rich have long played a role in U.S. politics but have an unusually prominent spot in incoming President Donald Trump's new administration.
The 100 wealthiest Americans got more than $1.5 trillion richer over the last four years, with tech tycoons including Elon Musk, Larry Ellison and Mark Zuckerberg leading the way, according to the Bloomberg Billionaires Index. The top 0.1% gained more than $6 trillion, Federal Reserve estimates through September show.
The Federal Reserve said Friday that it is leaving an international grouping of central banks that focused on how the financial system could help combat climate change