{"id":1055129,"date":"2025-07-18T12:09:00","date_gmt":"2025-07-18T16:09:00","guid":{"rendered":"https:\/\/democrats.org\/?p=1055129"},"modified":"2025-07-18T12:09:01","modified_gmt":"2025-07-18T16:09:01","slug":"new-report-americans-have-lost-faith-in-trumps-failing-economy-as-he-steers-it-towards-crisis","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/new-report-americans-have-lost-faith-in-trumps-failing-economy-as-he-steers-it-towards-crisis\/","title":{"rendered":"NEW REPORT: Americans Have Lost Faith In Trump\u2019s Failing Economy As He Steers It Towards Crisis"},"content":{"rendered":"\n
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In response to this month\u2019s <\/em>consumer sentiment report<\/em><\/a> showing Americans\u2019 confidence in the economy remains historically low, <\/em>DNC Rapid Response Director Kendall Witmer released the following statement:<\/em><\/strong><\/p>\n\n\n\n

\u201cDonald Trump promised to lower prices on Day One, but nearly six months into his disastrous second term, the American people are tightening their belts and bracing for a recession. After Trump hit Americans with the largest cuts to health and food assistance in U.S. history, he continues to drag the country into an erratic trade war with no end in sight. Trump is selling out small businesses, farmers, and veterans all to fund tax breaks for his billionaire backers \u2014 and the American people are taking notice.\u201d<\/p>\n\n\n\n

NEW REPORT: Under Donald Trump, consumers\u2019 confidence in the economy is \u201cwell below its historical average\u201d as Americans brace for continued trade chaos and high inflation.<\/strong><\/p>\n\n\n\n

University of Michigan July Consumer Sentiment Report<\/strong><\/a>: \u201cConsumer sentiment was little changed from June \u2026 it remains a substantial 16% below December 2024 and is well below its historical average. \u2026 expected personal finances fell back about 4%. <\/p>\n\n\n\n

\u201cConsumers are unlikely to regain their confidence in the economy unless they feel assured that inflation is unlikely to worsen, for example if trade policy stabilizes for the foreseeable future. <\/strong>\u2026 [C]onsumers still perceive substantial risk that inflation will increase in the future.\u201d<\/p>\n\n\n\n

REMINDER: Inflation increased in June by the fastest rate since Trump took office, as energy, gas, and grocery prices continue to rise and economists warn of <\/strong>\u201ceconomic weakness.\u201d<\/strong><\/a> <\/strong><\/p>\n\n\n\n

CBS News<\/a>: \u201cOn a month-over-month basis, the CPI rose 0.3%, which is the largest increase since January <\/strong>and in line with economists\u2019 forecasts.\u201d<\/p>\n\n\n\n

ABC News<\/a>: \u201cInflation surged in June as Trump\u2019s tariffs took hold\u201d  <\/strong><\/p>\n\n\n\n

Bloomberg<\/a>: \u201cNeil Dutta, head of US economic research for Renaissance Macro Research, tells Bloomberg Television that he sees signs of economic weakness in this report<\/strong> because while, some goods prices are rising, the softness in some services suggests fragility among the consumer.\u201d <\/strong><\/p>\n\n\n\n

Trump\u2019s reckless economic agenda is dragging the US towards a financial crisis, as Americans already face higher prices, higher long-term unemployment, and slower growth.<\/strong><\/p>\n\n\n\n

CNBC<\/a>: \u201cThe nation\u2019s largest retailer warned in May that it would have to raise prices for its shoppers as President Donald Trump\u2019s new duties drive up the cost of many imported goods. About two months later, some household items on Walmart\u2019s shelves have higher prices, according to a CNBC analysis.\u201d<\/strong><\/p>\n\n\n\n

Reuters<\/a>: \u201cFed\u2019s Williams says tariff economic impact is only just starting\u201d<\/p>\n\n\n\n

NPR<\/a>: \u201cAs things stand, there\u2019s a 10% tariff on almost everything the U.S. imports, though there are some exceptions. On goods from China, there\u2019s a 30% tariff rate. Last year, China was the third largest source of imported goods to the U.S.<\/p>\n\n\n\n

\u201c[S]ome economists warn that it may be some of the most vulnerable people in the U.S. who will feel the economic pinch of tariffs the president has imposed on most of the world.\u201d<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

In response to this month\u2019s consumer sentiment report showing Americans\u2019 confidence in the economy remains historically low, DNC Rapid Response Director Kendall Witmer released the following statement: \u201cDonald Trump promised to lower prices on Day One, but nearly six months into his disastrous second term, the American people are tightening their belts and bracing for […]<\/p>\n","protected":false},"author":292,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1055129","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nNEW REPORT: Americans Have Lost Faith In Trump\u2019s Failing Economy As He Steers It Towards Crisis - 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\/new-report-americans-have-lost-faith-in-trumps-failing-economy-as-he-steers-it-towards-crisis\/\" \/>\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=\"2025-07-18T16:09:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-18T16:09:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/democrats.org\/wp-content\/uploads\/2025\/01\/Black-Logo-White-Fill-For-Email.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1101\" \/>\n\t<meta property=\"og:image:height\" content=\"483\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Adrianna Tomasello\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Adrianna Tomasello\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/new-report-americans-have-lost-faith-in-trumps-failing-economy-as-he-steers-it-towards-crisis\/\",\"url\":\"https:\/\/democrats.org\/news\/new-report-americans-have-lost-faith-in-trumps-failing-economy-as-he-steers-it-towards-crisis\/\",\"name\":\"NEW REPORT: Americans Have Lost Faith In Trump\u2019s Failing Economy As He Steers It Towards Crisis - 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