Economic headwinds are posing a challenge to President Biden as he readies a possible reelection bid during which jobs and the economy are likely to take center stage.

The White House has sought to highlight the resilience of the U.S. economy in the face of high inflation, rising interest rates and mounting layoffs across the technology, real estate and media sectors in making arguments for Biden’s economic stewardship.

Inflation had been expected to be a serious headwind for Democrats in last November’s midterms, but instead the party exceeded expectations by gaining a Senate seat while keeping its House losses to a minimum.

New threats are now on the horizon even as the White House hopes for a soft economic landing from Federal Reserve efforts to lower inflation and prevent a recession.