Biden wants to persuade undecided voters with 'Bidenomics'

US President Joe Biden made statements about his economic plan “Bidenomics” in Chicago, Illinois. Biden’s economic plan highlights regulations that will increase the prosperity of middle-class Americans. US President Joe Biden will focus on his economic plan in order to dispel Americans’ pessimistic outlook on the economy and attract undecided voters to his side. Biden, who witnessed a sharp recovery after the recession caused by the pandemic during his two-year presidency, is still seeing a decline in his approval ratings under the weight of voters’ concerns about the knock-on effects of inflation and rising interest rates on the direction of the economy. The US President tried to revive his vision of middle-class American prosperity in his speech in Chicago. This plan, dubbed ‘Bidenomics,’ includes taxing the rich to invest in areas critical to national security, including chips; educating workers; and developing economic competition. According to a Reuters/Ipsos poll conducted earlier this month, more than half of Americans are unhappy with Biden as president, while only 35 percent of respondents support Biden’s economic policies. Voters rate the economy as the most important issue. White House advisers say the inflation numbers are high but are moving in the right direction under policies Biden has championed that aim to reduce deficit spending and lower costs on a range of products. “The president has promised to take a very different approach — one that grows the economy from the middle out and from the bottom up,” said Lael Brainard, director of Biden’s National Economic Council.