Americans' Views on Economy Have Changed Drastically in 3 Months

Donald Trump was reelected to the Oval Office partly because those who voted for him had faith he'd boost the economy. Now, two recent surveys from Gallup and Reuters/Ipsos suggest that Americans' confidence in the president to achieve that is waning, especially after his administration's launch of tariffs that set off a global trade war. "Public attitudes about several specific aspects of the US economy have changed markedly in the short time Trump has been in office," says Lydia Saad, director of US social research for Gallup, per USA Today. "Americans' expectations for the stock market, economic growth, and employment have turned negative, and consumers are feeling unusually pessimistic about their personal finances."

Some notable finds:

• According to the Gallup poll conducted April 1-14, 53% of Americans now say their financial situation is worsening—the highest number since Gallup began tracking this stat in 2001. It's the first time more than half of Americans felt this way. Only about 38% feel their financial situation is getting better; 43% felt that way last year.
• There's a marked difference in the answer to that question when broken down by party: While 76% of Democrats and 54% of independents say their financial situation is plummeting, only 28% of Republicans say the same; last year, 68% of GOPers were sour on their finances.
• Just 29% believe the stock market will go up over the next six months, while 58% think it will decline.
• In the Reuters/Ipsos poll conducted April 16-21, only 37% of respondents approve of President Trump's handling of the economy. In January, right after his inauguration, that number hovered at 42%. Three quarters of those who took the survey are worried a recession is on its way, while 56%—including a quarter of Republicans—think Trump's moves on the economy are "too erratic."
• Meanwhile, 52% of respondents agreed with the statement "Trump's actions could make it harder for me to live comfortably when I retire," compared with 31% who disagreed with that statement. "You have a president who promised a golden age," says James Pethokoukis of the American Enterprise Institute conservative think tank. "But everything that's supposed to be up is down, everything that's supposed to be down is up."
• Still, Trump's "overall approval rating—at 42%—remains higher than his Democratic predecessor Joe Biden enjoyed for much his term," notes Reuters.

(More US economy stories.)