{"id":1052875,"date":"2025-05-09T11:11:48","date_gmt":"2025-05-09T15:11:48","guid":{"rendered":"https:\/\/democrats.org\/?p=1052875"},"modified":"2025-05-09T11:11:48","modified_gmt":"2025-05-09T15:11:48","slug":"inflation-expectations-skyrocket-as-americans-brace-for-higher-costs-and-a-tanking-job-market","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/inflation-expectations-skyrocket-as-americans-brace-for-higher-costs-and-a-tanking-job-market\/","title":{"rendered":"Inflation Expectations Skyrocket as Americans Brace For Higher Costs and a Tanking Job Market"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

In response to inflation expectations skyrocketing under Donald Trump,<\/em> DNC Chair Ken Martin released the following statement:<\/em><\/strong><\/p>\n\n\n\n

\u201cUnder Donald Trump, prices are sky-high and Americans\u2019 expectations for their economic future are plummeting. After promising to lower prices on \u2018Day One,\u2019 Trump is driving the economy into a ditch so he can give another round of handouts to his billionaire friends on the backs of working families. More Americans are fearing a recession, worrying about their job security, and wondering how they\u2019ll be able to pay the bills \u2014 and they know Trump is to blame. \u201d <\/p>\n\n\n\n

Trump\u2019s failing economic agenda is skyrocketing inflation expectations as working families brace for higher prices and a slower job market, with more Americans reporting being financially worse off under Trump. <\/strong><\/p>\n\n\n\n

Federal Reserve Bank of New York<\/a>: \u201cMedian inflation expectations \u2026 increased by 0.2 <\/strong>percentage point at the three-year-ahead horizon to 3.2%, the highest reading since July 2022. \u2026<\/strong><\/p>\n\n\n\n

\u201cYear-ahead commodity price expectations increased by 0.3 percentage point for the price of gas to 3.5%<\/strong>, 0.8 percentage point for the cost of medical care to 8.7%, 2.4 percentage points for the cost of college to 9.1%, and 1.8 percentage points for rent to 9.0%. \u2026<\/strong> <\/p>\n\n\n\n

\u201cMean unemployment expectations<\/strong>\u2014or the mean probability that the U.S. unemployment rate will be higher one year from now\u2014increased by 0.1<\/strong> percentage point to 44.1%, the measure\u2019s highest reading since April 2020. \u2026<\/strong><\/p>\n\n\n\n

\u201cThe mean perceived probability of finding a job in the next three months<\/strong> if one\u2019s current job was lost decreased by 1.9 percentage points<\/strong> to 49.2%, the lowest reading since March 2021. \u2026 <\/strong><\/p>\n\n\n\n

\u201cPerceptions about households\u2019 current financial situations compared to a year ago deteriorated sharply<\/strong> in April, with the share of households reporting a worse situation rising <\/strong>and the share reporting a better situation declining. Similarly, year-ahead expectations about households\u2019 financial situations deteriorated sharply.\u201d <\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cThree-Year Inflation Views at Highest Since 2022<\/strong> in Fed Survey\u201d <\/p>\n\n\n\n

\u201cAmericans\u2019 \u2026 views on the job market worsened \u2026<\/strong><\/p>\n\n\n\n

\u201cRecession concerns have grown<\/strong>, and most economists expect tariffs to boost prices and weigh on growth. \u2026 <\/p>\n\n\n\n

\u201c[E]xpected household income growth fell to the lowest since April 2021.\u201d <\/strong><\/p>\n\n\n\n

REMINDER: In 100 days, Trump brought the economy to the <\/strong>\u201cbrink of crisis,\u201d<\/strong><\/a> as hiring plummets and GDP shrinks. <\/strong><\/p>\n\n\n\n

Wall Street Journal<\/a>: \u201cU.S. Faces Recession This Year, IIF Says\u201d<\/strong><\/p>\n\n\n\n

CNN<\/a>: \u201cTrump took the US economy to the brink of a crisis in just 100 days\u201d<\/strong> <\/p>\n\n\n\n

\u201cDonald Trump spent his first 100 days back in the Oval Office driving an economy that the world envied to the brink of crisis, risking America\u2019s reputation as a financial safe haven and fostering fear among voters who\u2019ve lost confidence in his leadership. \u2026<\/strong><\/p>\n\n\n\n

\u201cBut the president deliberately and singlehandedly adopted policies that are almost certain to spike prices even more<\/strong>; that could lead to shortages; and that have CEOs and small businesses dealing with chaos and the possibility of a recession.\u201d <\/p>\n\n\n\n

Bloomberg<\/a>: \u201c[Q1 GDP was] well below average growth of about 3% in the prior two years\u201d<\/strong>  <\/p>\n\n\n\n

Bureau Of Labor Statistics<\/a>: \u201cThe average jobs added per month across the first three months of Donald Trump\u2019s second term was<\/strong> just 154,667 jobs, 54% lower than the last administration\u2019s monthly average<\/strong> of 336,250 jobs.\u201d<\/p>\n\n\n\n

Intuit<\/a>: \u201cThe latest quarterly data from the Small Business Index shows US small business employment fell by 433,500 jobs (-3.53%) in the first quarter of 2025.\u201d<\/strong><\/p>\n\n\n\n

Trump\u2019s approval on the economy is tanking, and a majority of Americans believe the economy is on the wrong track under Trump \u2014 including Republicans. <\/strong><\/p>\n\n\n\n

Reuters<\/a>: \u201cJust 37% of respondents<\/strong> to the six-day poll that concluded on Monday approve of Trump\u2019s handling of the economy\u201d<\/strong> <\/p>\n\n\n\n

Axios<\/a>: \u201c55% of U.S. adults say they are not confident Trump can make good decisions about economic policy\u201d <\/strong><\/p>\n\n\n\n

Joe Weisenthal, Bloomberg<\/a>: \u201cMarch saw a big drop in how *Republicans* feel about the state of the US economy\u201d <\/p>\n\n\n\n

The Economist\/YouGov<\/a>: \u201c54% of Americans say the country is on the wrong track, 55% disapprove of Trump\u2019s handling of inflation\u201d<\/strong>  <\/p>\n\n\n\n

###<\/p>\n","protected":false},"excerpt":{"rendered":"

In response to inflation expectations skyrocketing under Donald Trump, DNC Chair Ken Martin released the following statement: \u201cUnder Donald Trump, prices are sky-high and Americans\u2019 expectations for their economic future are plummeting. After promising to lower prices on \u2018Day One,\u2019 Trump is driving the economy into a ditch so he can give another round of […]<\/p>\n","protected":false},"author":293,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1052875","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nInflation Expectations Skyrocket as Americans Brace For Higher Costs and a Tanking Job Market - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/inflation-expectations-skyrocket-as-americans-brace-for-higher-costs-and-a-tanking-job-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-09T15:11:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png?w=1024\" \/>\n<meta name=\"author\" content=\"Shelby Reese\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shelby Reese\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/inflation-expectations-skyrocket-as-americans-brace-for-higher-costs-and-a-tanking-job-market\/\",\"url\":\"https:\/\/democrats.org\/news\/inflation-expectations-skyrocket-as-americans-brace-for-higher-costs-and-a-tanking-job-market\/\",\"name\":\"Inflation Expectations Skyrocket as Americans Brace For Higher Costs and a Tanking Job Market - 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