Even Republicans are souring on Trump's economy

President Trump promised an economic golden age when he returned to office last year. Instead, voters are in their crankiest mood in years about their financial outlook — and the pessimism is spreading even to Republicans. Why it matters: The growing GOP gloom could hardly come at a worse time for Trump and the party — less than six months out from a midterm election that's likely to turn on the economy. The big picture: Trump's approval rating has been dropping for months, but the University of Michigan's May consumer sentiment survey released Friday revealed something more striking: Republicans are beginning to lose confidence in the economy, too. Republican and independent voters' attitudes about the economy hit a low point of Trump's second term, per the survey. Overall sentiment hit an all-time low, period. Expectations that inflation will remain high shot up among everyone surveyed — but especially Republicans. The long-run inflation expectations for Republicans "are currently more than double their February 2025 reading on a monthly basis," the Michigan survey found. By the numbers: An AP/NORC poll out this week found that around 6 in 10 Republicans approve of Trump's handling of the economy. That's down from about 8 in 10 in February. Gallup's gauge of consumer economic confidence released Friday found that Republicans' economic outlook has dipped the past four months to the lowest level of Trump's second term. A CBS News/YouGov poll this month told much the same story: Just 36% of Republicans said Trump's policies were making them financially better off. 2% of Democrats and 14% of independents reported feeling that way. What they're saying: General satisfaction is still reasonably high among Republicans, but the softening GOP view on the economy is "a crack we're seeing," said Megan Brenan, a senior editor with Gallup. Between the lines: The reasons for the gloom aren't hard to spot. 📈 Inflation: 37% of Republican r...

Original source: Axios