The two phenomena are not directly related, but Biden’s Bidenomics swan song and the persistence of inflation together serve as an effective illustration of the problems that have plagued his administration for most of his term.

Biden’s happy talk about the economy failed to convince many voters. It’s a reason his job approval rating stands at just 39.1%, according to the RealClearPolitics polling average. Biden’s economic disapproval rating was at 60% or worse in three of the last five polls the outlet included, with a fourth showing 59% disapproving of his handling of the economy. 

On Election Day, 68% of voters rated the economy as “not so good” or “poor” to just 5% who thought it was “excellent,” according to the exit polls. President-elect Donald Trump received 70% of the vote among the first group. He took 88% among the third of voters who thought national economic conditions were poor. Trump won 81% of voters who said the economy was their top issue. Fifty-three percent of all voters said they trusted Trump more on the economy.