It is the Left’s form of entertainment nowadays. As long as Trump is being continually harassed by various frivolous investigations, they are satiated because it diverts them from thinking about the epic fail of Biden’s economy that showcases skyrocketing food and energy prices and plunging 401k’s as the recession dives much deeper.
Gas prices are coming down. That drop is driven by a decline in energy prices worldwide. The previous spike in energy prices was attributed to Putin's war, according to those who trade in and follow the commodity markets. Food prices are partially affected by global warming, the effects of which are destroying some crops and cropland.
The U.S. economy is in a recession now. That's part of the continuous expansion/contraction economic cycle that has existed for as long as the economy has existed. What varies cycle to cycle is the severity and duration of the recessions when they come or the opposite when expansions come.
U.S. presidents have little power over the economic cycle. If you do an overlay of the parties in power on the chart of recessions and expansions, you will see no correlation between a political party in power and a given part of the cycle. In other words, through historic cycles, it is not true that one party presides over economic growth and another presides over economic decline.
At present, the U.S. recession is mild. Employment is unusually high given that we are in the recession part of the cycle. With inflation now a problem (caused by obscene levels of government spending in prior years, which causes the dollar to lose its purchasing power), the Federal Reserve Bank is hiking interest rates and shrinking its balance sheet. That will have a negative effect on employment, making the recession worse.
Inflation is bad. Unemployment is bad. At present, the Fed considers inflation to be the most harmful of the two. So they have prioritized fighting inflation. They do that knowing that using their inflation-fighting tools (higher rates, tighter balance sheet) will slow the economy and reduce employment.
This is an intentional and announced Federal Reserve Bank policy. More economic pain is coming and anyone paying attention knows this. The Fed could take the opposite stance. They could print more money like they did before, but they are not doing that now because they know the consequences of that are too much for the world to bear (the collapse of the U.S. Dollar).
A certain amount of economic pain exists in the U.S. now. more is coming.
While economic cycles are more powerful than any president or political party, one thing is constant. When economic pain is felt, the party out of power is quick to blame the party in power. And while a whole lot of people lose themselves in that debate, the ones who understand the economic cycle position their assets and conduct themselves to posper.