The famous bicycle fall has put an additional blow on the skull of good old Joe Biden (no allusion to his age), who continues to lose popularity among his citizens. Mostly mocked for his age, and more rarely for his political decisions (always attributed to his proximity to the octogenation), the American president, successor to Donald Trump, has to face a rather tense political and economic climate. Between the war in Ukraine, tensions between China and Taiwan, a deleterious economic climate and a fall in popularity, President Biden must no longer know where to turn.
To With the approach of the midterm elections, the American equivalent of the French legislative elections, the fall of the American president does not work in his favor and risks discrediting him and his party. Biden, in office since January 2021, inherited a country that was trying to recover from the COVID crisis, thanks in particular to historically low interest rates and the massive purchase of assets by the Federal Reserve and by the other central banks.
Unfortunately, these abundant injections of liquidity into the economy have contributed to the emergence of intense and persistent inflation, undermining economic activity around the world. To stem this problem, central banks have turned around and are now phasing out their quantitative easing, all accompanied by the raising of interest rates. And as bad news never comes alone, this economic tightening now poses the threat of a generalized recession, more and more likely according to the main American banks.
Finally, the person responsible for the fall of Joe Biden, both in cycling and in popularity, would it not be Jerome Powell? The question needs to be asked.