Lael Brainard is adamant: The United States economy has improved markedly since the twin shocks of the pandemic and Russian invasion of Ukraine, and sooner or later, Americans will notice that. 

But President Joe Biden’s top economic adviser acknowledges there’s still a perception gap. Recent opinion polls show about two-thirds of Americans view the president’s handling of the economy negatively – a potential hindrance to his reelection in 2024. 

At a Monitor Breakfast on Thursday, Dr. Brainard, director of the White House’s National Economic Council, lists the positives: The price of gas is down by $1.40 since its peak. Some grocery prices are coming down, and the inflation rate has declined by more than half – from 9.1% year over year, to 4%, as measured by the consumer price index. Jobs are plentiful, as seen in the low 3.7% unemployment rate for May.