A CNN analyst issued a grim warning for President Biden on Friday, suggesting the 2024 candidate may lose the upcoming election if he cannot change Americans' minds regarding the economy.

During an appearance on "CNN This Morning," analyst and Spectrum News political anchor Errol Louis said the president has tried to use "Bidenomics" as a campaign slogan because the economy is typically the No. 1 issue for voters.

He noted that recent polls suggest Biden's handling of the economy may not necessarily be going over very well with people, partly because of inflation, as well as "misperceptions about some other things."

"Sure, the economy might be getting better, but if voters don't perceive it in time, he'll… he'll lose," Louis added.

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The following day, Biden was asked by the media what his outlook is on the economy heading into the new year.

"All good. Take a look. Start reporting it the right way," Biden replied.

Biden has repeatedly been critical of the press, which he accuses of focusing more on negative news than positive things that come from his administration.

FreedomWorks Chief Economist Steve Moore told Fox News Chief Washington Correspondent Mike Emanuel on Tuesday that Biden's public comments hyping up economic conditions make him appear "out of touch" with the average American.

"Americans are feeling financial stress. If you look at what's happened to Americans' incomes after inflation—the average American family has lost about $2,000 dollars in purchasing power and they're feeling it," he said while sitting down for an interview on "America's Newsroom."

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Moore also surmised that rising personal and national debt is an "overriding factor" determining why Americans are "pessimistic" about the economy.

Over the last three years, the national debt has risen by $6 trillion. Additionally, personal credit card debt sits at $1.1 trillion.

A recent Fox News poll shows only 14% of Americans believe Biden's economic policies have helped them, while nearly half (46%) say his administration has hurt them financially.

The pessimism toward the economy crosses party lines. The Fox News poll showed a whopping 61% of Democrats joining the 93% of Republicans and 85% of independents who say the economy is in bad condition.

Fox News' Joseph A. Wulfsohn contributed to this report. 

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