The political earthquake of the 2024 election saw former President Trump achieving a monumental Electoral College victory, expanding his demographic coalition and likely winning the popular vote.
Voter discontent, primarily surrounding the economy and immigration, significantly favored Republicans. Despite improvements like low unemployment and decreasing inflation, many Americans felt burdened by the economic conditions.
The shift in voter perception, where Biden's approval rating plummeted to 40% and only a quarter felt financially better off compared to four years ago, played a crucial role in the election’s outcome.
Increasing rates by the Federal Reserve, aimed at combating inflation, inadvertently made borrowing more expensive for Americans, complicating their financial situation and fuelling frustrations directed at the Biden administration.
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