In response to Donald Trump’s second straight month of rising inflation expectations, DNC Chair Ken Martin released the following statement:

“After spending his campaign promising to lower prices on Day One, Donald Trump — for the second month in a row — raised prices and saw inflation expectations increase. Americans recognize a phony promise when they see one: It’s no surprise that a growing number of Americans are fed up. While working families are struggling to put food on the table and pay their bills, Trump is only focused on giving his billionaire backers another round of tax handouts. The American people deserve better.” 

Since taking office, Donald Trump has failed to lower inflation and tanked consumer sentiment while Americans increasingly worry about their financial futures. 

University of Michigan: “Consumer sentiment confirmed its early month reading and fell for the third straight month, plummeting 12% from February. The expectations index plunged a precipitous 18% and has now lost more than 30% since November 2024. This month’s decline reflects a clear consensus across all demographic and political affiliations. Republicans joined independents and Democrats in expressing worsening expectations since February for their personal finances, business conditions, unemployment, and inflation. … Notably, two-thirds of consumers expect unemployment to rise in the year ahead, the highest reading since 2009.”

Nick Timiraos, Wall Street Journal: “One-year ahead inflation expectations rose to 5% in the Michigan survey, the third straight month of an unusually large rise of 0.5 pp or more.” 

Bloomberg: “[L]ong-term inflation expectations jumped to a 32-year high as anxiety over tariffs continued to build. …

“Consumers expect prices to rise at an annual rate of 4.1% over the next five to 10 years, the data released Friday showed. That’s the highest since February 1993 and above the 3.9% preliminary reading. …

“The survey showed the expectations index plunged 11.4 points, the sharpest drop since 2021, to 52.6 this month. The current conditions gauge decreased to a six-month low of 63.8.”

Bloomberg: “Consumer spending was weaker than expected again in February while a key inflation metric picked up, in a double whammy for the economy before the brunt of tariffs. …

“Notably in February, Americans reduced spending on services for the first time in three years in the face of higher prices — including on dining out. …

“The so-called core personal consumption expenditures price index … was up 2.8% from last year, remaining stubbornly above the Fed’s 2% target. …

“The report points to sticky inflation just as President Donald Trump’s planned tariffs risk stoking price pressures even further. His aggressive trade policy — which has tanked sentiment among businesses and consumers — combined with growing signs of household financial stress, has raised concerns that the economy may fall into stagflation or even recession.” 

An overwhelming majority of Americans reject Trump’s failed economic agenda as his approval rating continues to plummet.

Newsweek: “Trump’s Approval Rating On the Economy Hits New Low, Polls Show” 

“In a new Gallup poll out on Thursday, 41 percent of Americans approve of how the president is handling the economy versus 59 percent who disapprove. …

“Thursday’s poll comes on the heels of a CNN poll earlier this month, in which 56 percent of Americans disapproved of Trump’s handling of the economy, while 44 percent approved.” 

CBS News: “Americans’ economic outlook a bit more pessimistic, CBS News poll finds”

“Most Americans [76%] say their incomes still aren’t keeping pace with inflation. … 

“Only a third rate the overall economy as good right now … About half continue to think it’s getting worse. …

“[70% have] anxiety about having enough savings for retirement.”