While Donald Trump drags the economy toward an economic downturn, the Federal Reserve warns that Trump’s billionaire-first agenda is raising prices and slowing economic growth. Thanks to the Trump administration’s out-of-touch agenda, jobless claims have skyrocketed to an eight-month high, and CEO economic outlook has sunk to a five-year low. The American people are fed up — an overwhelming majority disapprove of Trump’s handling of inflation and the economy. 

Here’s a look at the latest ways Trump’s economic agenda is hurting Americans: 

Axios: “CEO economic outlook sinks to five-year low”

• “Economic sentiment among America’s top CEOs plunged to the lowest level since 2020, according to a new survey by the Business Roundtable, first seen by Axios.”

• “The employment subindex plummeted by almost 19 points, with more than 40% of CEOs expecting to shrink their workforces in the next six months — up from the roughly 30% who said the same last quarter.”

Navigator: “Americans Continue to Disapprove of Trump and His Handling of the Economy” 

• “[Americans] disapprove of [Trump’s] handling of the economy (41 percent approve – 57 percent disapprove).” 

• “Among independents, both the President’s overall approval and economic approval are underwater by more than 30 points (overall; 28 percent approve – 63 percent disapprove, economic; 27 percent approve – 63 percent disapprove), the lowest it’s been since his inauguration in January” 

• “Less than a third of Americans express favorability towards tariffs (28 percent), and opposition to Trump’s tariff plan continues to grow, increasing from 52 percent to 57 percent since March.” 

• “70 percent of Americans rate today’s economy negatively and a majority say it’s only going to get worse (54 percent).”

The Economist: “151 days into Donald Trump’s term”

• “The president’s net approval rating is -12%, down 3.3 points since last week.”

• “Net approval rating by state … Wisconsin -12.6% … Michigan -10.7% … Pennsylvania -11.8% … Nevada -11.6% … Georgia -5.7% … North Carolina -8.3% … Arizona -11.6%” 

Bloomberg: “New Home Construction Falls to Five-Year Low”

• “New US residential construction declined in May to the slowest pace since the onset of the pandemic as an elevated inventory of homes for sale and high mortgage rates sapped the motivation to build.”

• “Housing starts decreased 9.8% to an annualized rate of 1.26 million homes last month, according to government figures released Wednesday. The figure was below all estimates in a Bloomberg survey of economists.” 

• “Builder sentiment now stands at the lowest level since 2022 as firms contend with uneven demand and face the risk of higher costs for imported materials as a result of the Trump administration’s tariffs.”

Reuters: “US weekly jobless claims, housing data point to softening economic activity”

• “The report from the Labor Department on Wednesday showed widespread layoffs in the prior week, which had boosted claims to an eight-month high. … [L]ayoffs have risen this year, with economists saying President Donald Trump’s broad tariffs had created a challenging economic environment for businesses.”

• “Layoffs were reported in the prior week across several states in a range of industries including transportation and warehousing, accommodation and food services, agriculture, construction and manufacturing.”

Bloomberg: “Auto Tariffs Seen Hiking Car Prices by Nearly $2,000 Per Vehicle”

• “Car buyers will bear the brunt of the $30 billion cost of President Donald Trump’s tariffs, driving up already high US auto prices by almost $2,000 per vehicle, according to consultant AlixPartners.”

• “The firm expects auto companies to pass along 80% of the cost of Trump’s tariffs — which it calculates as $1,760 more per car.”