Reversing Trump’s slide in economic ratings will be an uphill battle

A noteworthy development in President Trump’s second term is the American public’s loss of confidence in his economic policies.

Polling on his handling of the economy varies considerably for Republicans and Democrats. But the biggest swing has been among independent voters, which shows his approval rating has fallen as low as 25 percent. Trump’s slide in popularity over the last year is in marked contrast to his first term, when nearly half of U.S. adults approved of his policies.

So, what accounts for the dramatic turnabout? 

There are three primary considerations. Trump’s inability to bring inflation down as he promised, weaker job creation since he assumed office last year, and growing inequality, as Trump’s policies favor the rich and penalize the poor.  

Of these, the most important is Trump’s failure to address voters’ concerns about the high post-pandemic cost of living. According to CNN data analyst Harry Enten, Trump’s average approval rating on inflation is 42 points underwater and at minus-60 points among independents.

When Trump assumed office in 2025, inflation was slowing. The Fed had raised interest rates from 0.25 percent to 5.5 percent in 2022 and 2023. Prices of goods had even declined, and the Fed’s target of 2 percent inflation was in sight. But goods prices subsequently rose after Trump announced the biggest increase in tariffs in 100 years last April. Progress in lowering inflation stalled. 

Meanwhile, inflation has picked up, reaching 3.3 percent in March due to the........

© The Hill