Inflation is rising again, hiring is slowing, and voter confidence in the economy is at its lowest level in years. Federal data shows Annual inflation is reaching 3 percent — a full point above the Fed’s target for the first time since the Biden administration — driven largely by higher energy and food costs, areas Americans can least avoid.
At the same time, job growth has fallen An average of 150,000 new jobs per month at the start of the year will rise to about 25,000 by August. Research by Goldman Sachs economist Elsie Peng estimates the US is losing about 100,000 jobs each month due to slower immigration, fewer government hiring and cuts in federal contract funding, compounded by trade policy uncertainty.
As those conditions escalate, Trump’s numbers on economic management are falling rapidly. According to the latest Quinnipiac survey, Only 38 percent of voters approve of his handling of the economyQuinnipiac University polling analyst Tim Malloy called it “A low watermark for a president who promised a vibrant and vigorous economy.”
However, the White House argues the opposite. A spokesperson said in a statement to The Hill Said “President Trump’s economic agenda has overcome Joe Biden’s inflation crisis, delivered real wage growth, and secured trillions of dollars in investment and hiring in America.”
It’s hard to confirm a clear picture of what’s really happening because the government shutdown has halted almost all federal economic reporting except the CPI — meaning the country is effectively flying without instruments. Analysts warn that if the shutdown prolongs, blindness could increase and the economic crisis would deepen.
Meanwhile, the administration’s foreign economic options are getting attention from both parties — especially $20 billion support plan for Argentina’s currency markets The pledge to buy Argentine beef comes at a time when U.S. cattlemen are already struggling with rising costs and declining livestock numbers. Beef prices have increased 16 percent This year. Senator Deb Fischer said she expressed “deep concern” to the White House. alert Nebraska cattlemen “cannot afford to have the rug pulled out from under them.”
senator mike rounds added it “Opening the market to more foreign beef…will only worsen the problem and harm domestic producers.”
trump defended this move On Truth Social, arguing, “The cattle ranchers I love don’t understand that the only reason they’re doing so well for the first time in decades is because I put a tariff on cattle coming into the United States.”
The macroeconomic story is becoming increasingly difficult to explain: Inflation is rising, job growth is slowing, and farmers – the core of the “America First” coalition – are now interrogated in public Are they being placed behind foreign allies?
And that’s the tension that’s defining this moment: It’s hard to live up to America First when American workers are consistently ranked second.
Lindsay Granger is a NewsNation contributor and co-host of The Hill’s commentary show “Rising.” This column is an edited transcription of his on-air commentary.
