Economic Confidence Tanks to 4-Year Low

Americans are feeling glum about their wallets—and that's politically risky territory for President Trump. A new Gallup survey finds economic confidence at its weakest point in nearly four years, with just 16% of adults calling conditions "excellent" or "good" and roughly half branding the economy "poor." Three-quarters say things are getting worse, a sour mood fueled by inflation and surging gas prices linked to the war in Iran.

• Gallup's economic confidence index has fallen to -45, its lowest mark since June 2022. The -58 mark then came "during a period, like now, marked by high inflation and soaring gas prices," Gallup says. The index dived from +41 to -33 at the start of the pandemic in 2020. Its highest mark since then was +2 in April 2021.

Republicans still view the economy more favorably than other groups, but their optimism has dropped to its lowest level since Trump returned to office, the Washington Post reports. Meanwhile, gas prices have jumped to about $4.56 a gallon heading into Memorial Day, up from $2.90 before the conflict began, and more Americans are naming fuel costs, inflation, and the overall cost of living as top national concerns. Some 10% of Republicans said the price of gas was the nation's top problem, compared to 3% of Democrats and independents. Voters still cite "the government" most often as the country's main problem—a challenge for Republicans, who hold the White House and both houses of Congress.

President Trump's approval rating, meanwhile, has declined to 36%, according to a separate Washington Post-ABC News-Ipsos poll. The poll earlier this month also found that only 28% of Americans support the president's White House ballroom project. A Fox News poll released Wednesday put Trump's approval rating at 39%, with his support reaching record lows of 80% among Republicans and 54% among non-MAGA Republicans. "Despite consistently strong GOP support, the president's numbers are leaking a bit," Republican pollster Daron Shaw said. "Make no mistake; it's all about affordability. Independents jumped ship in 2025, and now non-MAGA Republicans and other core constituencies are wavering."