A new Gallup poll finds Americans’ confidence in the economy has plummeted to a new low, hitting likely the lowest confidence since the end of the Great Recession in early 2009.

Playbook says the purpose of the June pivot appears threefold:

1. To convince skeptical voters that, despite their current misgivings, the economy is actually doing quite well.
2. To calm fears about inflation and reassure both everyday Americans and major economic players that Biden has a plan to address it.
3. To thwart GOP efforts to try to hang inflation like an albatross around Democrats ahead of the midterms — and maybe even go on offense by accusing the GOP of pushing policies that will make the economy worse.

“Calling off plans at the last minute used to be seen as rude. Now it can feel like a fixture of social life,” the Wall Street Journal reports.

“As Covid-19 cases rise in some parts of the country, cancellations keep coming. Among friends, families and colleagues, reasons for canceling plans range widely, as does the timing. This is partly due to the uneven nature by which Covid-19 spreads, and partly due to a willingness to beg off plans with little more than sniffles. The availability of rapid tests—and events that require them—has also meant that people find out their health status at the last minute.”

“Many Americans hoped this would be the first normal summer after two years of Covid-19 disruptions. A chronic labor shortage means it probably won’t be,” the Wall Street Journal reports.

“In Phoenix, less than half of the public pools are opening because the city can’t hire enough lifeguards, despite offering a $2,500 incentive payment. Trolley lines in coastal Maine that service beaches are shutting down for the summer due to a dearth of drivers. Across the country, restaurants in tourist destinations are operating on limited hours because they don’t have enough staff to stay open longer.”

Wall Street Journal: “President Biden said he would support the Federal Reserve in its effort to combat high inflation by reducing economic demand, as the central bank lifts interest rates at its fastest pace in more than three decades.”

“Mr. Biden outlined a broad three-part plan for addressing inflation, which is running at 40-year highs, in an opinion piece published Monday evening in The Wall Street Journal. He is set to meet with Fed Chairman Jerome Powell on Tuesday at the White House, the first such meeting since Mr. Powell was tapped by Mr. Biden and confirmed to a second four-year term by the Senate on May 12.”

“Mr. Biden said it was likely that the pace of job growth could slow from a monthly pace of 500,000 jobs to around 150,000 as a necessary result of the Fed’s efforts to combat high inflation.”