Economic conditions -- and perceptions -- are critical for Biden in Michigan

Michigan Gov. Gretchen Whitmer said it would be foolish for Democrats to view the presidential race with an air of overconfidence or presumed victory, despite persistent signs of economic growth under President Joe Biden and another criminal indictment facing his leading Republican challenger, former President Donald Trump.

"No, I don't believe that for a second, and I don't think the president believes that either," Whitmer told CNN in an interview here this week. "I don't think anyone should take this upcoming election for granted, regardless of what the matchup is."

For all the uncertainties confronting Biden in his quest to win reelection, the economy remains one of the most stubborn challenges. The nation's economic conditions are consistently stronger than the economic perceptions of Americans, a disconnect the governor said should not be discounted.

"I feel good, but everything feels very precarious," Whitmer said, when asked about the economy in her state. "I use the word precarious because we've been through a lot these last few years."

She added: "People are somewhat optimistic, but worried that perhaps there's a curveball coming."

The White House is seeking to build on that optimism and the strength of its domestic agenda, pointing to the monthly Labor Department report on Friday that showed hourly wages had climbed from a year ago and the US unemployment rate had fallen to 3.5% in July.

Even as inflation recedes, a majority of Americans harbor negative views about the economy. A new CNN poll out this week found that 51% said they think the economy is still in a downturn and getting worse. The president's overall approval stands at 41% in the new poll and drops to 37% on his handling of the economy.