CNBC survey shows President Donald Trump’s approval rating on the economy is still in positive territory but has fallen since summer 2018.
President Donald Trump’s approval rating for his handling of the American economy dipped further in March, though it is still in positive territory.
Trump regularly boasted about the state of the economy, proclaiming it to be the best in the world. The president pointed to record employment data and healthy economic growth as evidence that his plan of trade wars, deregulation, and deficit-funded tax cuts worth $1.5 trillion is working. The Federal Reserve forecasts economic growth to be just 2.1 percent in 2019. Moreover, they project a slight rise in the unemployment rate to 3.7 percent this year, according to estimates released at the March meeting of the rate-setting Federal Open Market Committee.
Trump attacked current chair Jerome Powell’s steering of the Fed, which tightened monetary policy as the economy grew. He accused the Fed, which is independent, of failing to support his trade policy and claimed that policymakers “don’t have a feel for the market.” When asked directly if she thought the president had a grasp of macroeconomics, Yellen replied: “No, I do not.
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