Republicans are trusted more than Democrats when it comes to the economy, according to a new ABC News/Ipsos poll. The poll results come as inflation and a looming recession may help Republicans gain seats in Congress in the upcoming midterm elections.

The poll showed that 36% of respondents said they trust Republicans, when it comes to the economy, while 24% said they trust Democrats.

The numbers were similar for other aspects of the economy. When it comes to inflation, 36% said they trust Republicans, compared to 21% that trust Democrats. As for gas prices, Republicans came in at 36%, while Democrats received 22%.

A recent New York Times/Siena College poll found that likely voters who cited economic concerns as the most important issue was 44% -- well above any other issue.

A poll by the Associated Press-NORC Center for Public Affairs Research found that 46% of people say their personal financial situation poor.

On Oct. 13, President Joe Biden released a statement about inflation.

"Inflation over the last three months has averaged 2%, at an annualized rate. That's down from 11% in the prior quarter," the statement reads.

The White House has looked to relieve student debt, as eligible borrowers who earned less than $125,000 in either 2020 or 2021 can see up to $10,000 of their federal student loan debt forgiven.

Inflation