"Zoom out: The economy, in a lot of ways, is just fine. Growth is robust, inflation is a fraction of what it was not that long ago, and the labor market is, for now, in a (tenuous) equilibrium. Yes, but: The vibes are awful and getting worse. The thing that doomed Democrats in 2024 hasn't gotten particularly better since. Corporate layoffs are at a 22-year high."
"A cup of coffee costs 20% more than it did in 2024, when then-candidate Trump promised grocery prices would go down; a hamburger, 15% more, and so on. A majority of Americans believe the president is to blame for rising prices, per recent polling, with a strong majority saying their groceries and electric utilities cost more than a year ago. Voters also dislike his tariffs."
The White House maintains that Trump's message on affordability remains unchanged while urgency around affordability has increased. Consumers focus on the prices they pay and compare them to prior levels when judging economic performance. Economic indicators show robust growth, inflation much lower than earlier, and a labor market in tenuous equilibrium. Sentiment is deteriorating: corporate layoffs reached a 22-year high, a cup of coffee costs about 20% more and a hamburger about 15% more than in 2024, and majorities report higher grocery and electric utility bills and blame the president. A prolonged federal shutdown persists. Exit polls show voters who view the economy negatively shifted toward Democrats in recent races.
Read at Axios
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