WASHINGTON — Republicans still resoundingly approve of President Trump’s handling of inflation, though that support has been eroding as the broader public’s feelings on the economy soured dramatically, according to a new poll.
A considerable 63% of Republicans back Trump’s handling of inflation, down from 74% in March, while only 27% of the broader public approve, which is down from 33%, a CBS News/YouGov survey found.
Inflation has gotten hotter, clocking in at 3.8% for the 12 months ending in April, far above the Federal Reserve’s 2% target amid turmoil in energy markets. The US did add 115,000 new jobs in April, surpassing most forecasts.
Trump’s continued toehold with Republicans during economic turbulence comes after a string of successful GOP primary interventions.
His endorsement of Rep. Julia Letlow (R-La.) in the Louisiana Senate GOP primary led to the downfall of incumbent Sen. Bill Cassidy (R-La.) Earlier this month, he successfully took down five Republican state legislators in Indiana who defied him on redistricting.
Overall, a whopping 85% of Republicans either somewhat or strongly approve of Trump’s performance, as compared to a 37% approval rating with the general public.
The poll found deep pessimism about the state of the economy, which has only been exacerbated by the fallout from the war in Iran and the crisis in the Strait of Hormuz that sent gas prices skyrocketing.
When asked to describe the state of the economy, 65% used the word “uncertain,” 63% said “struggling,” 40% called it “unfair.” Only 12% said “rebounding” or “stable.”
Voters also overwhelmingly conveyed anxiety about the rise of artificial intelligence, with about two-thirds fretting that the nascent technology will kill jobs.
But despite those bleak numbers on the economy, Americans only barely trusted Democrats more, per the poll.
Only 35% said the Democrats have a better approach to the economy, compared to 31% who picked Trump and Republicans.
Trump has publicly argued that the economic fallout from the war in Iran is less severe than he anticipated, but contended that his attack on Iran was necessary to prevent the Islamic Republic from obtaining a nuke.
“We’ll call it a little pain,” Trump told Fox News’ Bret Baier last week. “I want to do the job right. If it takes another four weeks, think of it, we were in Vietnam for 19 years, I’m doing this for two, two-and-a-half months.”
The president and top officials in his administration have predicted that oil prices will quickly come tumbling down after the crisis in the Strait of Hormuz, where over a fifth of the world’s seaborne oil once flowed, is resolved.
The bleak sentiment on the economy is one of the lowest ratings polled since 2023, according to CBS News.
The CBS News/YouGov survey sample 2,064 adults from May 13-15, with a margin of error of plus or minus 2.7 percentage points.
