The latest CNBC All-America Economic Survey reveals that Americans have become increasingly pessimistic about the economy due to persistent inflation, higher interest rates, and recession concerns.

This sentiment is at an all-time high, with a record-breaking 69% of the population holding negative views about the economy, both in the present and future.

The survey, which included 1,000 individuals from across the country and had a margin of error of +/-3.1%, also found that approximately two-thirds of Americans believe that their wages are not keeping up with inflation, and an equal percentage think that the country is either already in a recession or on its way to one.

This negative outlook is having a direct impact on President Joe Biden’s approval rating.

According to the survey, his overall rating has decreased by 2 percentage points to 39%, and his disapproval rating has increased by 1 point to 55% when compared to the November survey.

In the latest survey, Americans have expressed disapproval of President Biden’s management of the economy, with a 62% to 34% margin.

This marks a decline from the 57% to 38% margin in the previous survey and is the second-lowest rating of his presidency concerning the economy.

Written by staff