Overview
- The University of Michigan’s May consumer survey reported overall sentiment at an all‑time low and showed Republicans’ long‑run inflation expectations more than double their February 2025 reading.
- Multiple national trackers including AP‑NORC, Gallup and CBS/YouGov recorded marked drops in Republican approval of President Trump’s handling of the economy since earlier this year.
- Polls show specific pain points: a bigger share of Republicans now cite higher gas prices and rising inflation as top concerns, and fewer say Trump’s policies are making them better off.
- The White House responded by stressing tax cuts, deregulation and energy expansion while calling recent disruptions linked to Iran policy short‑term.
- Political analysts warn that even modest erosion in GOP economic support could raise midterm risks for Republican House and Senate candidates because the election is likely to hinge on voter views of the economy.