As the US midterms approach, Trump’s boasts on the economy fall flat with voters
Summary
President Donald Trump has said the U.S. has the greatest economy in history, but many voters disagree. Inflation is higher, economic growth is slower, and most Americans feel the economy is doing poorly compared to when President Joe Biden left office.Key Facts
- Inflation has risen from 3.0% to 3.4% since President Trump took office again.
- Gas prices have increased by roughly 50% due to the conflict with Iran.
- 73% of Americans say the economy is in fair or poor condition; 48% say it’s poor.
- The Federal Reserve has raised interest rates to fight inflation.
- Prices for fuel oil, ground beef, fish, coffee, sugar, and electricity have all risen in the past year.
- Unemployment is about 4.1%, similar to Biden’s last year in office, but job growth is slower under Trump.
- The U.S. lost 35,000 factory jobs since Trump’s return, despite his tariffs aimed at boosting manufacturing.
- Consumer confidence is near historic lows, heavily affected by inflation, slower growth, high rates, and economic uncertainty.
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