For decades, common political wisdom has held that Americans vote based on their satisfaction with the economy. But even as the US economy booms, with persistently low unemployment and wage growth outpacing inflation, President Joe Biden’s approval rating continues reaching record lows. The FT’s Rana Foroohar and James Politi join this week’s Swamp Notes to explain why. 

Mentioned in this podcast:

What if it’s not the economy, stupid?

Why Biden gets little credit for a strong US economy

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Swamp Notes is produced by Jake Harper, Sonja Hutson, Lauren Fedor, Marc Filippino and Ethan Plotkin. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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