U.S. Republicans are increasingly skeptical of former President Donald Trump’s trade policies, with a new survey revealing a sharp drop in economic optimism as inflation fears hit levels not seen since the 1980s. 🌍💸
The Numbers Don’t Lie
The University of Michigan’s consumer sentiment index fell to 50.8 in May – one of its lowest readings ever – as worries about job losses and rising prices intensified. Registered Republicans saw their confidence plunge to 84.2, the weakest since November 2023, while their economic outlook hit a six-month low. 📉
Inflation Anxiety Goes Viral
Short-term inflation expectations skyrocketed to 7.3%, the highest since 1981 (yes, before the first Macintosh computer!). Even long-term predictions inched up, suggesting many fear Trump-era tariffs could keep costs high. Ironically, this comes as official data shows consumer inflation cooling to 2.3% in April. 🤔
What’s Next for the GOP?
With the 2024 election cycle heating up, these numbers highlight growing cracks in Republican unity over trade strategies. As one analyst put it: “When your base starts sweating over grocery bills, it’s time to rethink the playbook.” 🛒🔥
Survey period: April 22 – May 13 | Source: Financial Times
