Donald Trump's economic program is facing growing rejection among American voters. According to fresh data from a large-scale survey conducted in early August, more than half of registered voters—53%—said their financial situation had worsened since Trump returned to the White House. This is an alarming signal for an administration that made fighting inflation its key campaign promise.
Discontent Extends Beyond Party Lines
The survey, covering 1,913 registered voters from August 7 to 10, demonstrates the systemic nature of the crisis of confidence. Notably, discontent is not limited to the president's traditional opponents. Nearly 57% of independent voters noted a deterioration in their financial situation, and even among Republicans—Trump's key electoral base—about 25% expressed disappointment.
Particularly alarming for the White House is the drop in approval ratings within its own party: over the course of a month, support among Republicans fell by 8 percentage points. Overall, 55% of registered voters disapprove of the president's performance, including nearly one in five Republicans.
Inflation as the Main Stumbling Block
The most acute issue is pricing policy. 64% of voters disapprove of the administration's actions in fighting inflation and the rising cost of living, and among independents this figure reaches nearly 70%. At the same time, 67% of respondents believe the economy is moving in the wrong direction—and only one in four holds the opposite view.
Macroeconomic indicators confirm these sentiments. July inflation stood at 3.4%—higher than the level recorded at the end of Joe Biden's term. The consumer sentiment index fell to near a record low, and real earnings declined over the past month. This creates an explosive mix: voters consistently name inflation and the cost of living as the country's main problems, and current dynamics only reinforce their disappointment.
"The Trump administration is consistently implementing the president's course to increase affordability—lowering drug prices, bringing jobs back to the U.S., and cutting taxes. The administration also notes a historic reduction in violent crime across the country and the most reliable border protection in history," said White House spokesman Kush Desai.
Political Consequences
The published data comes ahead of the November midterm congressional elections, which are traditionally seen as a referendum on the sitting president's performance. Democrats already lead Republicans on key issues—44% to 39%—including inflation and employment. Fresh inflation data due out before November will be a decisive test: whether it can shift voter sentiment or merely cement the current negative trend.
My take: For the cryptocurrency market, this shift in sentiment has dual significance. On one hand, persistently high inflation supports demand for bitcoin as a protective asset. On the other, political instability and a possible change in the administration's course could lead to a reassessment of regulatory initiatives in the digital assets sphere. Keep a close eye on November's data: it will serve as a marker not only for traditional markets but for the entire crypto sector as well.