As President Donald Trump nears the 100-day milestone of his second term, public approval of his economic management has declined sharply. A Reuters/Ipsos poll reveals that only 37% of Americans approve of his handling of the economy, down from 42% at his inauguration. This decline is notable given that economic management has historically been an area of strength for Trump.
The drop in approval is largely attributed to concerns over Trump's aggressive economic policies, including the implementation of sweeping tariffs aimed at restructuring global trade. These measures have led to significant market volatility, with the S&P 500 experiencing a 14% drop since February. Inflation has also exceeded the Federal Reserve's 2% target, contributing to public unease.
Despite a relatively low unemployment rate of 4.2% in March, fears of an impending recession remain high. About 75% of respondents in the Reuters/Ipsos poll express concern over a potential economic downturn. Additionally, 56% view Trump's economic policies as too erratic, further eroding confidence in his leadership.
While Trump maintains strong support among his Republican base, with 81% approval, rising living costs and fears about Social Security reliability are causing unease even among his supporters. The growing pessimism signals a shift in public sentiment that could impact political dynamics moving forward.
