Morgan Stanley: Bidenomics Boosts U.S. Economic Growth Forecast

Morgan Stanley has revised its U.S. economic growth outlook, crediting "Bidenomics" for driving a boom in large-scale infrastructure and rebounding domestic business investment, particularly in manufacturing. The bank now projects a 1.9% expansion in the first half of 2023, nearly four times its previous forecast. The infrastructure spending and other legislation signed into law have incentivized domestic manufacturing and hiring, leading to increased GDP growth. However, wider polling shows that some Americans remain unconvinced about the country's economic recovery under President Biden.