With COVID-19 deaths in the U.S. topping 200,000 this week following a rise in new daily cases last week for the first time in eight weeks, the role of the economy in the looming presidential election could take on heightened importance -- but it is not clear how.
FILE PHOTO: Yard signs supporting U.S. President Donald Trump and Democratic U.S. presidential nominee and former Vice President Joe Biden are seen outside of an early voting site at the Fairfax County Government Center in Fairfax, Virginia, U.S., September 18, 2020. REUTERS/Al Drago
Wisconsin stands out for its high and rising load of new coronavirus cases, about two-and-a-half times the U.S. average, adjusting for population. Among the six battleground states, Biden appears to be ahead in just two, Reuters/Ipsos polls show: Michigan, where the virus has mostly stayed under control, and Wisconsin, where it has not.
But, as JP Morgan chief U.S. economist Michael Feroli noted this week, households were getting a big fiscal boost at the time. In July they received $75 billion in extra unemployment benefits. Those benefits expired at the end of July, leaving out-of-work households with far less cash to spend.
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