President Donald Trump has repeatedly defended his record on the economy, telling reporters at a recent White House press gaggle: "We have the greatest economy in history." His assertion comes as the administration and its critics offer sharply different readings of current conditions ahead of the U.S. midterm elections.
Indicators and public mood
Critics note that inflation is higher and economic growth lower than when Joe Biden left office, and point to a roughly 50% increase in gas prices since the war against Iran began as a factor squeezing household budgets. A majority of Americans appear to share a negative view of the economy: 73% say it is in fair or poor shape, including 48% who describe it as poor. Meanwhile, the Federal Reserve has raised interest rates amid concerns about persistent inflation.
Opponents and some economists argue that policies such as tariffs and tensions related to Iran have pushed prices higher. "It's bluster, it's gaslighting for him to say the economy is the greatest ever," said Darrick Hamilton, chief economist for the AFL-CIO, the country's main union federation, adding that the economy is "trending down by many measures" and attributing some of the deterioration to what he called "unforced errors" by the president.
Political stakes for the midterms
The contrast between the president's upbeat messaging and the concerns reflected in polls sets up a central political fight as voters head to the polls. Supporters of the White House maintain that the overall economy remains strong, while critics warn that rising prices and higher borrowing costs are hurting ordinary Americans. How voters weigh those competing narratives could have significant consequences for both parties in the midterm contests.