Following the OECD’s report, the National Bureau of Economic Research (NBER) announced earlier this week that due to economic activity plummeting on the heels of state-issued, lockdown measures in March and April the United States has now entered a recession after the economy peaked in February.

And yet: the US Treasury Secretary Steven Mnuchin attempted to put a more cheerful spin on the US economy and where it stands when speaking to Senators on Wednesday, contrasting starkly the doom and gloom the OECD, Fed and IMF have trotted out.

It’s long been held that a strong economy will prove to be a factor when voters head to the polls in November; and Mnuchin’s optimistic spin on the economy helps president Donald Trump in his bid for re-election in November, despite the odds and polls standing against the ‘America first’ president in recent weeks.

Whether the Republicans or Democrats are in command of the White House over the next four years will be crucial towards the US economy and global economy, making the 2020 US elections that pit Trump against Biden one of the most pivotal in the nation’s modern history.

Five months remain before American voters will head to the ballot box and how the fight against coronavirus progresses, how the US economy recovers and how calls for change in America are dealt with are sure to combine to determine whether Trump is re-elected for a second term in office or whether presumptive Democratic presidential nominee Joe Biden ascends to power.

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