As President Biden approaches his 100th day in office, he confronts a much different economy than the one that existed when he was sworn in. Hiring is picking up rapidly after backsliding in December. Hunger is decreasing. The number of families behind on rent fell by more than 2 million in March.
Economists have long predicted that growth will accelerate as the coronavirus comes under control, regardless of who is in the White House, though the Biden administration has put a distinctive spin on the government’s role in the recovery. The president’s signature spending initiatives, such as a $2 trillion infrastructure plan, are still taking shape and, if passed, are not likely to take effect until after the initial rebound. But at the same time, Biden’s team prioritized vaccinations and worked quickly with Congress to enact a $1.9 trillion stimulus package to provide ample support to the economy. Both of these moves have already had a tangible impact.