Hollywood will be backing him en masse. The major newspapers will be rooting to put him back in the White House. And most of corporate America, in between filling in the forms for the next round of ‘green subsidies’, will be quietly hoping for another four years of lavish spending and protectionism to keep out all those irritating foreign competitors.
As he launched his re-election campaign this week, President Joe Biden could count on plenty of mainstream support. There is just one problem: the Federal Reserve is about to torpedo his campaign – by tipping the American economy into recession.
GDP figures for the US released today showed an economy slowing down sharply. Over the first quarter of the year, output rose by 1.1 per cent , a sharp deceleration from the 2.6 per cent rate in the last quarter of 2022, and well below the 1.9
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