Why Democrats couldn’t sell a strong economy, in 3 charts

The red shift in 2024 was so broad that no one localized issue appeared to tip the election in President-elect Donald Trump’s favor. However, one key factor may have been voters’ widespread dissatisfaction with the economy.

Enduring pessimism about the US economy has puzzled political analysts, given that most major indicators suggest it is strong and that the US has recovered better than other countries from a pandemic-induced slump. Inflation has come down significantly from its peak in June 2022, slowing price hikes for basic goods. The Federal Reserve started cutting interest rates, making borrowing money cheaper. The economy has continued to grow at a solid rate. Unemployment dipped to its lowest level in 54 years in 2023 and stayed within a desirable range.