A Democratic sweep in November would have the best odds of boosting employment and rebounding the economy, Moody’s found in its analysis of election scenarios.
“The economic outlook is strongest under the scenario in which Joe Biden and the Democrats sweep Congress and fully adopt their economic agenda," analysts said.
The Democratic nominee has meanwhile ridiculed Donald Trump for his ignorance of American history and highly questionable advice on using household bleach to combat the coronavirus, turning the tables on a president known for his insults.
“I’m not the guy who by the way said the problem with the Revolutionary War is we didn’t have enough airports," the candidate joked with a reporter in North Carolina. "I’m not the guy who said the attack that took down the trade towers was on 7-Eleven.”
The president again mocked his challenger at a rally in Jacksonville, Florida, on Thursday night as the former vice president’s latet polling from Fox puts him ahead in the key states of Ohio, Pennsylvania and Nevada, where the president trails by 11 points.
In an interview with MSNBC on Friday, Mr Biden refused to speculate on the doomsday scenarios that legal scholars and election analysts have considered following the president’s threats to the election, insisting that the president is using fear as a distraction from his administration’s failures.
The Democratic candidate instead suggested that the rule of law will prevail and American voters will have their voice heard at the polls.
“The last thing we need is the equivalent of a coup,” he said. “No one’s going to back him if that were to occur."
He added that “the whole notion of him talking about this … is to take our eye off the ball, not to talk about what’s happening about people dying of [Covid-19], not talking all the unemployment, not talking him being unwilling to bring Congress together and get off his golf course and out of the sand trap and have meeting in the White House.”
“It’s always about distraction with him,” he said.
He called the president’s attempts to undermine the results of the election “irresponsible and outrageous" and he suggested that a massive voter turnout will overwhelm the president’s claims that the results will be disputed.
“The people in this country are going to be heard on 3 November,” he said.
Mr Trump is expected to announce his third appointment to the high court on Saturday.
Vice presidential candidate Kamala Harris will deliver remarks on Monday in response.
Follow live coverage as it happened
Please allow a moment for our liveblog to load