The changing politics of the economy

Donald Trump is safe and unharmed after what’s being investigated as a second assassination attempt on his life in the past two months. In fact, his campaign has referenced the incident in its latest fund-raising pitch.

But the issue that still dominates the presidential contest is the economy, which is driving a lot of the discourse and even fanning some controversial elements. (The Fed is set this week to keep the economy in the news, as it’s expected to decide on an interest-rate cut — more below.) And there’s evidence that Trump’s lead on the topic isn’t as strong as it had been.

Kamala Harris may be gaining ground on the economy, according to a new poll by The Financial Times and the University of Michigan’s Ross School of Business. About 44 percent of registered voters trusted the vice president to manage it, compared with 42 percent supporting Trump, within the poll’s margin of error. But of the respondents who watched last week’s debate, 48 percent favored Harris on the economy.

There are other signs that Americans may be changing their outlook. U.S. consumers increasingly feel better about prices and other economic matters, according to the latest sentiment survey conducted by the University of Michigan, published Friday. Meanwhile, Harris supporters have continued to describe her policies as good for business.

Some Republicans worry the Trump campaign is losing focus on the issue. That’s a problem, given that voters still overwhelmingly disapprove of President Biden’s handling of the economy, something indicated even in the FT/Ross poll.

But consider that Trump has recently spent more time discussing, then criticizing, Taylor Swift’s endorsement of Harris. Or that Senator JD Vance has been tied up defending his and Trump’s debunked claims about Haitian migrants eating pets in Springfield, Ohio — which the state’s own Republican governor called a “piece of garbage.”