Mr. Reagan’s appeals worked in part because Americans had just endured more than a decade of persistently high prices and high interest rates. Economists and historians generally agree that voters came to see the progress under Mr. Reagan as relief from a long, difficult period. Voter psychology is very different under Mr. Biden. Those mortgage rates Mr. Reagan trumpeted? The difference is that under Mr. Reagan, rates fell, and under Mr. Biden, they’ve gone up.

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Persons: Reagan, Reagan’s, Biden, Biden’s, they’ve, ”, Francesco D’Acunto, D’Acunto Organizations: Georgetown University’s McDonough School of Business, White House Council, Economic Locations: America