President Donald Trump’s approval rating on the economy has fallen to record lows in two major national polls, highlighting persistent voter concerns over rising living costs ahead of the 2026 midterm elections. The latest CNBC All-America Economic Survey and The Washington Post-Ipsos poll both found that most Americans disapprove of Trump’s handling of economic issues despite easing inflation and resilient financial markets, suggesting that improving economic indicators have yet to translate into greater public confidence.
CNBC poll shows record-low economic approval
The CNBC All-America Economic Survey, conducted from July 8 to July 12 among 1,000 registered voters nationwide, found Trump’s overall job approval at 40%, with 59% disapproval, giving him a net approval rating of minus 19 points. Trump’s standing on the economy was even weaker, with 38% approving and 60% disapproving, resulting in a net economic approval rating of minus 22, the lowest recorded for him in CNBC’s polling.
The survey also reflected widespread economic unease. According to reports, 61% of respondents said they were pessimistic about the economy and its future, compared with 25% who expressed optimism. Nearly half of the respondents, 47%, reported cutting back on essentials such as food and medical care, six points higher than in CNBC’s April survey, while roughly two-thirds said they had reduced discretionary spending.
Second poll records steeper decline
A separate The Washington Post-Ipsos poll, conducted July 8 to 13 among 2,648 U.S. adults, found Trump’s overall approval at 37%, with 61% disapproving. On the economy, just 33% approved of his performance while 65% disapproved, producing a net rating of minus 32, the lowest economic rating in the history of that polling series. Nearly half of respondents, 48%, said they expected the economy to worsen over the next year, while 59% believed people like them do not have a good chance of improving their standard of living.
Americans are entering the election season in a ‘distinctly sour mood’
Jay Campbell, a Democratic pollster with Hart Research who worked on the CNBC survey, said voters continue to feel the effects of higher prices. “People are still paying a lot more for stuff than they were a year and a half ago,” Campbell said, adding that the continued increase in costs is driving “a lot of anger” and that lower gasoline prices are “just not enough to make up the difference.” Micah Roberts, a Republican pollster who also worked on the survey, said Americans are entering the election season in a “distinctly sour mood,” with more expecting economic conditions to worsen.
Political consequences in midterms remain uncertain
The back-to-back surveys suggest that voter concerns over household finances continue to overshadow positive economic trends such as a moderating inflation rate and strong stock market performance. However, dissatisfaction has not produced a dramatic shift in party preference, as the CNBC survey found Democrats leading Republicans by just 49% to 45% on the question of which party should control Congress.
