Kamala Harris tries to distance herself from Donald Trump with a left-leaning economic program

The Democratic candidate detailed her economic measures, one of the major issues of the American election, in a speech in North Carolina on Friday.

In the United States, the November election will largely be decided on economic issues. And the very likely Democratic candidate is expected to do so. While the Democratic convention in Chicago, which is being held from August 19 to 22, should see Kamala Harris officially inaugurated, she will detail her economic program on Friday, August 16 in a speech in North Carolina.

On the economic front, Donald Trump continues to criticize his rival, whom he associates with the record “disastrous” by Joe Biden. The Republican candidate insists that all prices will increase if Kamala Harris is elected: those of gasoline, heating, electricity… On the other hand, he would immediately lower prices if elected, assures the billionaire.

Cumulative inflation has certainly reached 20% under Joe Biden’s mandate, which has suffered from the Covid epidemic. But the increase in prices fell back below 3% in July, which may benefit Kamala Harris. She has never spoken about inflation until now in her meetings but about “high cost of living”. She points the finger at companies accused of having too high margins and of artificially inflating prices. This argument is also well received by centrist voters.

We know that the future Democratic candidate is in favor of higher taxes on companies and high incomes. She has also already advocated for an increase in the minimum wage, which is around $1,200 (the equivalent of €1,100), and the granting of paid leave to workers. Kamala Harris is also campaigning for the construction of three million new homes to deal with the “shortage” in the sector and for more affordable rents. All these measures are intended to attract middle-class voters who would tend to turn to Donald Trump.

Such measures seem to be working in her favor. Because, according to a survey by the Financial Times and the University of Michigan published on August 7, Kamala Harris is now hot on Donald Trump’s heels when it comes to whether Americans trust her to manage the economy. She is credited with 42% favorable opinions compared to 41% for Donald Trump. Kamala Harris will now have to reassure financiers and Wall Street. There is a tendency to say that the Harris-Walz Democratic ticket is the most left-wing since the 1980s.

The Federal Reserve meeting in September, the last one before the November presidential election, will be worth watching. It is possible that the Fed will lower its interest rates, which would have an immediate effect on the American economy and in particular on purchasing power and would thus benefit the Democratic candidate.