With midterms roughly three months out, Trump's 'golden age' economic pitch is running into voter anxiety over cost of living, with just 39% approving of his job performance and 30% approving of his handling of inflation, per RealClearPolitics. A plurality of Americans in an Economist/YouGov poll named inflation and prices their top issue, 17 points ahead of jobs and the economy.
Inflation has been above 3% since Trump went to war with Iran alongside Israel in late February, driving gas prices above $4 a gallon for the first time this late in summer in over two decades. Mortgage rates sit around 6.7%, and prices for beef, veal and electricity remain elevated, even as unemployment stays low and stocks climb.
Trump continues blaming Biden for inflation he inherited, while touting stock market gains that disproportionately benefit wealthy Americans. Even some Republicans, including former Trump aide Marc Short, say it's hard to argue the president's tariffs aren't contributing to the affordability problem, while White House aides reportedly track Trump's economic views partly through his Fox News viewing habits.
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