Voters in swing states disapprove of Bidenomics by a two-to-one margin, according to a poll last week. And Democrats keep wondering why more black and Hispanic voters are showing interest in the GOP. A possible explanation arrived last week in a new Federal Reserve report showing how minorities in particular have struggled in the Biden years.
News coverage of the Fed’s Survey of Consumer Finances has noted that the typical family’s net worth increased 37% between 2019 and 2022 amid the run-up in equity and housing prices. But while Americans overall have become wealthier during Mr. Biden’s tenure, many don’t feel that way because they are cash poorer.
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