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How Donald Trump Single-Handedly Cured America's Economic Blues
Turns out America's economic gloom was fueled by something far thornier than inflation: political feelings.
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The Lede
Republicans' expectations around the economy improved in December, while Democrats' got worse. It's part of a trend in economic sentiment: People feel a lot better about the economy and their prospects when the political party they support is in charge. So BI's Emily Stewart wanted to know, was Americans' deep sense of economic pessimism over the past year — and the recent turnaround — just a politically driven mirage?
Key Details
- Consumer sentiment has been on the upward slope for multiple months, surveys from the University of Michigan found.
- When people say their expectations are better or worse, it's not simply the outcome of the election they're responding to but the policies they believe are on the horizon.
- Democrats are worried that Trump's threatened tariffs and promise to undertake mass-deportation efforts will make things pricier. Republicans, on the other hand, think that these policies will be good for the economy.
