Trump is losing voters on the economy

Inflation got Donald Trump elected in 2024. Now, his ratings on economic issues are at their lowest point ever, even worse than during COVID-19

The numbers on the economy are basically unanimous and relatively straightforward: President Donald Trump is facing severe backlash as economic indicators and polling data turn against him. They now suggest his strongest political asset may be vanishing.

First, take the forecasts: The Atlanta and New York Federal Reserve banks are now forecasting negligible or negative growth in real Gross Domestic Product for the first quarter of 2025, for example. And on Thursday, the Philadelphia Fed reported their survey of manufacturers yielded the worst economic outlook (in terms of forward-looking expected business activity) since 2020 — rivaling the poor numbers from the 2008 financial crisis.

All this is happening mostly before the fallout from the president’s “Liberation Day” tariffs kicked in, so imagine what the numbers next month/quarter are going to show if the administration doesn’t change course.

And on top of this, stocks are bouncing off a one-year low and the bond market is showing c…