Flashing Yellow Lights on the Economy Should Worry Republicans

Whether President Donald Trump has a “real” mandate for many of the polarizing things he and his administration are doing is less important than the fact that many voters — especially those who aren’t committed partisans — expect Trump to deliver on his campaign promise to get the economy moving and inflation under control. And, on that score, there are a number of flashing yellow lights that suggest voters are not seeing the movement they want to see.

First, Trump’s continued threat of tariffs against both friends and foes not only frustrates foreign governments, but is also taking a toll on consumer sentiment. The most recent Michigan Consumer Sentiment Index showed signs of significant economic anxiety. The survey found that consumer optimism dropped 10 points from January and “year ahead inflation expectations jumped up from 3.3% last month to 4.3% this month, the highest reading since November 2023 and marking two consecutive months of unusually large increases.” Americans’ concerns about inflation not only haven’t abated, they’ve gotten worse.

Trump has also seen a drop in his own job approval rating