Americans are disappointed with Trump's economic course: inflation and prices hit his ratings.
Just a few months after Donald Trump's return to the White House, the mood of American voters has sharply deteriorated. Fresh data from a large-scale survey conducted among registered voters captures a troubling trend: more than half of respondents (53%) say their financial situation has worsened since the start of the new presidential term.
The survey, which involved 1,913 participants, was conducted in early August, before the November midterm congressional elections. The margin of error is 2.9%, making the sample representative. The key driver of discontent is inflation and the rising cost of living—these issues, in my observation, now dominate the agenda of ordinary Americans.
Trump's approval rating is cracking
The numbers look grim for the current administration. Nearly 57% of independent voters reported a deterioration in their financial standing, and even among Republicans—Trump's traditional support base—about 25% express dissatisfaction. The overall presidential job approval rating has fallen to 55%, with a drop of 8 percentage points within his own party over the past month.
Attitudes toward the White House's economic policy are especially telling. 64% of respondents disapprove of the administration's efforts to combat inflation, and among independent voters, this figure reaches 70%. Moreover, 67% of respondents believe the economy is heading in the wrong direction.
The macroeconomic picture is worsening
My analysis confirms: July inflation stood at 3.4%—higher than the level recorded at the end of Joe Biden's term. The consumer sentiment index has plunged to near-record lows, and real earnings have declined over the past month. These figures directly hit the purchasing power of the population.
The White House, of course, is trying to counter the criticism. An official administration representative stated that the president's course is aimed at improving the affordability of goods, lowering drug prices, bringing back jobs, and cutting taxes. However, as the polls show, voters have yet to see tangible results.
My verdict: The November midterm elections will effectively become a referendum on Trump's economic policy. If fresh inflation data released before the vote does not show significant improvement, Republicans risk losing control of Congress. For markets, this is a signal of heightened volatility: political uncertainty in the U.S. traditionally intensifies pressure on the dollar and boosts the appeal of safe-haven assets, including bitcoin.