Democrats and Republicans live in different worlds. But you already knew that.
From CNBC,
U.S. consumers are becoming increasingly worried that tariffs will lead to higher inflation, according to a University of Michigan survey released Friday.
The index of consumer sentiment dropped to 50.8, down from 52.2 in April, in the preliminary reading for May. That is the second-lowest reading on record, behind June 2022.
“Increasingly.” Curiously, CNBC also reports,
Recent inflation data has not shown a tariff bump, as both the consumer price index and producer price index for April came in below consensus estimates.
The Michigan survey publishes its results by political party. Last month they published a special report on the subject, including the finding that inflation expectations vary widely by party affiliation.
For the current month (Figure 3b), Democrats expect inflation to run about 10 percent over the next year. Republicans expect an annual inflation rate closer to 2 percent. That’s a 5x difference. They can’t both be correct.
So far, as CNBC reports, the actual figures are coming in much closer to the expectations of Republicans.
The stock market (S&P 500 index) rose again today, as it did every day this week. The market has closed higher in 16 of the past 19 trading days. It’s up for the year to date and up since the November 2024 election.
The index has been published for 68 years. The very first time the S&P 500 index ever reached the level it sits at today was November 7, 2024. At no point in its 68 years has the index been higher than today without Trump being either President-elect or the President.
Rasmussen shows Pres. Trump’s approval rating still in the green, continuing its May streak.
