What does the economic slowdown mean for the election?
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The recent stock market downturn and economic slowdown have raised concerns about the impact on the upcoming US presidential election between Vice President Kamala Harris and former President Donald Trump. Experts believe that a mild economic cooldown or market turmoil in August will not significantly affect the election outcome. However, a severe economic downturn could damage Harris's prospects. The disappointing jobs report and rising unemployment rate have triggered recession indicators, but the labor market is still growing and the GDP is solid. The Federal Reserve may cut interest rates to mitigate the economic cooldown. The election forecast remains largely unchanged, with Harris in a virtual tie with Trump. It would take a severe economic downturn over the coming months to change the election outlook. Goldman Sachs economists have raised the probability of a US recession in the next year. Overall, economic performance could still shift the election prospects, but it is unlikely to change significantly.
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https://abcnews.go.com/Business/economic-slowdown-election/story?id=112637665
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