Trump's campaign trail promises have devolved into a jumbled mix of policies that fail to deliver on key economic issues, leaving many Americans feeling let down. The Republican leader has taken an unorthodox approach, spewing out a series of proposals in an attempt to recapture the support of voters who are growing increasingly disenchanted.
His vow to lower grocery prices was particularly contentious, with household energy costs rising 7.3% on his watch, surpassing twice the rate during Joe Biden's last year in office. His promise to revitalize the auto industry has also fallen short, while attempts to cut housing costs have been met with skepticism.
The central economic promise of his campaign – that jobs and factories would "roar back" due to tariffs – remains elusive. In fact, tariffs are now seen as a hindrance to curbing inflation, according to Jerome Powell, the head of the US Federal Reserve.
As a result, the president is facing growing criticism about his handling of the economy, with 49% of Americans believing that it's worse than it was a year ago and 54% disapproving of his economic policies. A CNN survey found that 61% disagreed with Trump's economic proposals.
In response, the president has resorted to a tactic employed by few Republicans – offering feel-good policy proposals in an attempt to signal that he is listening to the concerns of distressed Americans. However, many of these proposals have been panned by economists and are likely to do more harm than good.
For example, his proposal to cap credit card interest rates may actually hurt poorer borrowers who rely on credit, while plans to cut housing costs could lead to higher prices due to increased demand without a corresponding increase in supply. Other proposals, such as launching a criminal investigation into Powell or leveraging Venezuelan oil to lower oil prices, are seen as detached from reality.
The new approach is characteristic of the post-globalization era's shift towards acknowledging the grievances of people and communities that have been left behind by economic policies prioritizing growth above all else. While tapping into these concerns can work, Trump's attempts to do so are being met with skepticism, leaving it uncertain whether his spray of policy proposals will ultimately win over voters' support.
His vow to lower grocery prices was particularly contentious, with household energy costs rising 7.3% on his watch, surpassing twice the rate during Joe Biden's last year in office. His promise to revitalize the auto industry has also fallen short, while attempts to cut housing costs have been met with skepticism.
The central economic promise of his campaign – that jobs and factories would "roar back" due to tariffs – remains elusive. In fact, tariffs are now seen as a hindrance to curbing inflation, according to Jerome Powell, the head of the US Federal Reserve.
As a result, the president is facing growing criticism about his handling of the economy, with 49% of Americans believing that it's worse than it was a year ago and 54% disapproving of his economic policies. A CNN survey found that 61% disagreed with Trump's economic proposals.
In response, the president has resorted to a tactic employed by few Republicans – offering feel-good policy proposals in an attempt to signal that he is listening to the concerns of distressed Americans. However, many of these proposals have been panned by economists and are likely to do more harm than good.
For example, his proposal to cap credit card interest rates may actually hurt poorer borrowers who rely on credit, while plans to cut housing costs could lead to higher prices due to increased demand without a corresponding increase in supply. Other proposals, such as launching a criminal investigation into Powell or leveraging Venezuelan oil to lower oil prices, are seen as detached from reality.
The new approach is characteristic of the post-globalization era's shift towards acknowledging the grievances of people and communities that have been left behind by economic policies prioritizing growth above all else. While tapping into these concerns can work, Trump's attempts to do so are being met with skepticism, leaving it uncertain whether his spray of policy proposals will ultimately win over voters' support.