2025 Consumer Sentiment: Barely a Third See U.S. Economy Heading in Right Direction Six Months Into the Trump Administration

Few See Economy Headed in Right Direction or Feel Better Off | Pessimistic Views of Most Issues in Months Ahead | Mixed Views on New Trump Budget Legislation | Substantial Job Market Worries | Inflation Fears Persist for Americans | Continued Tariff and Trade War Concerns | Conflicted Sentiments on the Real Estate Market | Strong Concerns About Social Issues, Political Violence | Falling Trust in President Trump, Congress | Methodology | FAQ

For those who closely follow the news, it may be hard to believe it’s been just six months since the Trump administration took office, an inflection point that kicked off widespread changes in the economy, government spending, social policy, and more. 

President Trump began his second term with a U.S. economy that outperformed much of the world economically post-pandemic but was still recovering from the highest rates of inflation in decades, pushing up the price of everything from housing to groceries and gas. He returned to the White House amid promises to reduce the cost of living, dramatically ramp up immigration enforcement and tariffs on trading partners, and make sharp reversals of many social policies advanced during the Biden administration. 

Often, as important as any actual actions taken by a new administration is how the American people respond. To take the temperature of consumer sentiment six months after Trump's second term began, Clever Offers surveyed 1,000 Americans on a wide range of economic, political, and social topics. 

This new research reveals just 38% believe the U.S. economy is heading in the right direction, and fewer than a third (31%) say they’re better off financially than at the start of 2025. These findings headline a long list of illuminating insights into consumer sentiment and concerns about topics such as immigration, federal budget cuts, tariffs, the job and housing markets, and more. 

Read on to see more about the American public’s sentiment heading into the second half of 2025.

Barely a Third Say President Trump’s Economy Is Headed in the Right Direction — and Only 31% Feel Better Off Than Six Months Ago

For better or worse, it’s now President Trump’s economy — 60% of Americans believe his administration has impacted the current economic climate the most, 4x the number who say this about the second most-common choice, the Biden administration (15%).

That’s likely unwelcome news for Trump, as it comes as just 38% feel the U.S. economy is headed in the right direction, and only 31% feel better off financially than they did six months ago. At the same time, 61% don’t believe the federal government is taking the right actions to address economic concerns.

As the priorities of the Trump administration become clearer, Americans think they have a good idea of who has the most influence over policy: the wealthy. At 44%, it’s more than 3x the next highest answer, corporations (13%). Fewer than 1 in 5 total believe the most influence comes from working-class Americans (10%), middle-class Americans (7%), or small businesses (1%). 

With this in mind, it should be no surprise that Americans overwhelmingly believe that the Trump administration’s economic policy favors wealthy people most, with 55% saying so. That’s 5x the runner-up, middle-class Americans (11%). Over half of respondents believe Trump's economic policies least favor working-class Americans (36%) or middle-class Americans (15%).

Meanwhile, a stunning three-quarters of Americans believe that government leaders are intentionally serving corporate interests over the interests of their citizens (77%) or think wealthy Americans are taking advantage of the current political climate and broadening inequality (75%).

All of this lies in stark contrast to who Americans think should be prioritized in future economic policy decisions: 39% say working-class Americans and 23% say middle-class ones, representing nearly two-thirds of overall responses.

The result is that more than half of Americans (54%) oppose the Trump administration's economic policies generally, including 39% who strongly oppose them. Although that’s a small drop compared to 59% opposition in Clever’s survey earlier this year, 88% remain worried about the U.S. economy, nearly identical to the 89% who were worried in March.

Although the effects of Trump administration policies are only beginning to work their way through the economy, nearly half of Americans (49%) are sounding the alarm, saying they believe people are underreacting to the current federal administration's potential impact on their finances. That’s 14 percentage points higher than those who say people are overreacting (35%). Both grew by a small amount since Clever’s survey in March, suggesting minds are becoming more firmly made up about the impact of Trump administration policies. 

Although Americans don’t agree on much politically these days, there’s one point of relative consensus: Neither party has a clear plan to improve the economy. A statistically identical percentage said this about Republicans (58%) and Democrats (60%). Meanwhile, Americans are split 50-50 on whether their financial situation would improve if a different political party were in power. 

Widespread Pessimism About Financial, International, and Social Issues in the Months Ahead

Americans are, broadly, very pessimistic about the rest of 2025 and early 2026. Barely a third (36%) expect to be financially better off in six months than they are now. That’s virtually unchanged from the 34% who said the same in March. 

Among 20 various issues and topics, a plurality of Americans don’t expect a single one to improve, compared to 16 where they see things getting worse and four where they expect the issue to stay about the same as it is now:

• Nearly two-thirds (65%) think inflation and the cost of living will get worse, while only 15% think it’ll get better.
• Once again, 65% also think the costs of home maintenance and repairs will worsen in the coming months, as opposed to 9% who see them improving.
• About 60% of Americans see geopolitical tensions worsening, while only 1 in 10 (10%) expect a cooling off of international strife. 
• A 58% majority thinks the U.S. economy will get worse in late 2025 and early 2026. Fewer than 1 in 5 (19%) think it’ll improve. 
• Roughly 55% think gas prices will rise in the coming months, while only 15% foresee them falling. 
• About 5x as many Americans expect to see the situation involving reproductive rights, voting rights, marriage equality, increased discrimination, and similar issues worsen in the coming months, compared to improve, 50% to 11%. 

Overall, boomers are more worried than younger Americans about things getting worse on a wide variety of issues by anywhere from a few percentage points to 25% or more. 

There’s a particularly notable difference among generations on insurance costs, with 75% of boomers worried about them worsening this year compared to 51% of millennials. Similarly, 73% of boomers are worried about rising home maintenance costs worsening in the months ahead, while only 51% of millennials say the same. 

Geopolitical tensions are another area of stark disagreement between generations. Boomers feel more negatively about this danger worsening than millennials, 73% to 50%, perhaps a legacy of a Cold War upbringing or a longer memory of global instability.  

There are a few notable exceptions to this, especially when it comes to the job market. Millennials (28%) are twice as likely as boomers (14%) to say their own job security will get worse through the rest of 2025 and early 2026. In addition, millennials (43%) are seven percentage points more likely to believe a housing market crash is increasingly probable compared to boomers (36%). 

There’s also potentially grim news for the economy, which relies heavily on consumer spending. Nearly 2 in 3 Americans (61%) anticipate reducing their non-essential spending in the next six months due to the economic climate. Over that same period, almost 1 in 4 Americans (23%) are preparing for a bill they won't be able to afford, whether it’s credit card debt or a medical bill.

Skepticism of Trump Administration Budget Cuts and “Big Beautiful Bill”

Scaling back the size and scope of government programs has been a significant focus in the first six months of the Trump administration, and Americans are mixed on the results. Respondents are evenly split 50-50 on the Trump administration’s handling of cutting government spending. 

Although this might seem a typical result in a highly polarized country, other numbers reveal there’s a notable portion who disagrees specifically with the way the administration has gone about its cuts. For example, 77% believe their tax money isn’t being used responsibly, and 74% support the idea of cutting government spending generally, 24% more than people who approve specifically of Trump’s handling of the issue. 

The administration’s approval on cutting spending appears closely linked to the highest-profile and most controversial way that's happened, via the Department of Government Efficiency task force, or DOGE. Just 46% approve of DOGE, statistically unchanged from the 44% who felt this way earlier in 2025. This is a sure sign that, although the group and its actions are somewhat unpopular, few have changed their mind as the impact of its cuts has become clearer. 

It’s unlikely to get easier for the administration on the public opinion front in the wake of Congress passing and President Trump signing the so-called “Big Beautiful Bill.” The legislation extends the tax cuts from Trump’s first administration and limits or removes taxes on tips or overtime but also contains deep cuts to health spending, public assistance programs, and clean energy programs and incentives. In advance of its passage earlier this month, 55% of Americans opposed the measure overall.

However, the approval of specific provisions can vary widely, from the 75% who support eliminating taxes on tips and overtime to the 55% who support rolling back tax breaks for electric vehicles and clean energy. Perhaps the most substantial worries surround future changes to Medicaid or Medicare benefits. About 85% say they’re worried, with 50% saying they’re extremely so. This is a critical note, as the bill will make significant cuts to Medicaid programs while implementing new administrative and work requirements. 

It’s a sharp change for the program, one that may reflect a harder-nosed approach among some Americans toward government benefits. Respondents are roughly split on the issue of whether they believe government benefits and programs (such as unemployment benefits, welfare, and food stamps) discourage people from getting jobs and working hard, with 49% who agree and 51% who disagree with that claim. 

Attitudes on this issue are deeply linked to views of struggling Americans and the personal sense of self-sufficiency many seem to feel. Almost half of respondents believe most people struggling financially have made bad personal choices that led them there (45%) or that if others were as responsible with money as they personally are, there wouldn't be so many people in need of government assistance (45%).

Meanwhile, over 1 in 4 (29%) think they will never need a government program for low-income families so therefore shouldn't have to pay for them with their taxes.

On the other hand, there is one government program nearly all Americans hope to use one day in its present form: Social Security. Social Security benefit changes remain among the biggest worries of Americans, with 88% citing their concern. Notably, there’s little difference on this issue between boomers currently drawing from the system (90%) and millennials who are decades away (88%). 

Almost Half Expect Job Market to Worsen in 2025 or Are Worried About Their Job Security 

Worries haven’t eased about the job market broadly since Clever’s last survey, with 71% now saying they’re concerned, almost exactly the same as in March (72%). Nearly half of Americans (43%) expect the job market to worsen in the months ahead, about 3x the number who expect it to improve (15%). 

Even more concerning, the number of Americans who say they’re worried about their own job security took a more noticeable bump, from barely a third in March (35%) to 42% now. 

These increases are largely fueled by pessimistic young Americans. About 85% of millennials are worried about the job market, 25 percentage points more than boomers (60%). Meanwhile, nearly three-quarters of millennials (71%) are worried about their own jobs, too. That’s over 3x the number of boomers who say the same (22%).  

A job loss could be particularly perilous for the many Americans already living on a financial knife’s edge. More than 1 in 5 (21%) say they couldn’t comfortably afford their lifestyle for even a month if they lost their income. What's more, over half (52%) have six months or less of financial runway if they were to lose their incomes.

Workers in a growing number of industries are facing a new and modern threat to their livelihoods in the form of artificial intelligence. Although the technology promises to offer a wide range of benefits, 81% of Americans are worried about AI taking over jobs traditionally done by humans, and 50% foresee this issue getting worse in the months and years ahead. 

The fraught financial situation of the typical American in 2025 can perhaps best be captured in a different number: An outright majority believe they have little (40%) or no control (13%) over their financial future in the current economic climate.

Although many might not expect it, this number is actually highest among boomers, 56% of whom feel this way, compared to 48% of millennials. This supports the idea that younger generations feel more empowered thanks to decades of earning years ahead, while boomers’ financial future is often far more set in stone (or dependent on outside support) due to their reliance on Social Security and other savings and investments to carry them through their golden years. 

Americans, struggling or not, don’t have a very positive view of their neighbors when it comes to understanding the broader economy. A whopping 85% believe most Americans will ignore economic issues facing the country until their lives are directly impacted. With that in mind, it’s notable that 52% of respondents think government spending cuts will negatively affect them or their families, and 44% say they themselves are falling behind because of the current administration’s economic policies.

More Than Three-Quarters Are Worried About Their Finances as Inflation Fears Persist 

Whether it’s changes in federal policy or other economic factors, there’s no doubt financial concerns are high across America.

A substantial 81% of respondents are worried about their personal finances, and nearly half (45%) report having more difficulty affording basic necessities than six months ago. Only 12% of Americans say their trust in their financial security has improved since the start of 2025, fewer than a third of those who say the opposite (39%).  

Meanwhile, more than three-quarters of Americans (77%) are worried about their savings and investments, ranging from money in the stock market to their 401(k). For many, these are more than just financial goals or numbers on a spreadsheet, and the uncertainty is having real-life impacts. More than 1 in 3 Americans (35%) say their trust in their ability to retire comfortably worsened in the last six months, too.  

Still, one of the rare areas of improvement in sentiment is related to the stock market, with 38% saying they’re confident in the market over the next year. That’s a 10 percentage point increase since March, when a variety of economic concerns were causing more market instability. 

Perhaps the single biggest thing on Americans’ financial minds through the early 2020s was inflation, which reached levels many had never seen in their adult lives. Worries about inflation remain nearly universal, with 93% of respondents saying so, along with 71% who see the issue getting worse over the next year.

Even after years of price increases, Americans are still being forced to change their habits. Over two-thirds (69%) say rising grocery prices have caused them to change what they buy or where they shop in the last six months.

Many lay the blame squarely at the feet of President Trump, with 56% opposing the Trump administration’s handling of inflation, including 40% who strongly oppose it. In Clever's previous survey in March, 61% were opposed.

Majority of Americans Expect Tariff and Trade War Issues to Worsen 

Among the many sources of potential continued price increases for Americans is the Trump administration’s aggressive posture on tariffs. Despite an ongoing pause on most steep, universal tariffs, an overwhelming majority of 83% remain concerned about tariffs or a potential global trade war. These are most profound among millennials, 87% of whom say so, compared to 80% of boomers. 

The concerns are understandable, as two-thirds expect tariffs to have a negative impact on the American economy (67%) or say the tariffs have lessened their confidence in the economy (64%). However, it’s worth noting that the number of Americans expecting a negative economic impact from tariffs has actually declined by five percentage points since Clever’s last survey in March, when 72% said so. 

Still, this may just be a temporary respite. More than 4x as many Americans expect tariff and trade war issues to get worse in late 2025 and early 2026 than foresee things improving, 57% to 14%. And although the administration has delayed some tariffs, only 41% think President Trump will ultimately "chicken out" or back down on most tariffs/trade wars. 

American opposition to tariffs can be broadly explained by who they believe will benefit most from them. Respondents identify wealthy Americans as the largest single beneficiary (28%) of tariffs, but nearly as many (25%) say no one will benefit at all, with these two positions accounting for a majority of responses.

Just 7% say the middle class benefits from tariffs most, and 8% say the same for working-class Americans. Meanwhile, 7x as many respondents think corporations (14%) will benefit most compared to small businesses (2%). 

As to who benefits the least from Trump administration tariffs, the answer is equally clear: Nearly half of Americans see either working-class Americans (34%) or everyone (13%) in this unenviable spot.

Beneath the surface, there are also critical differences when it comes to which nations are being hit with tariffs in particular. 

Tariffs on allies such as Canada, the European Union, Japan, South Korea, and Mexico are unpopular, with 60% of Americans opposing them. However, 55% support tariffs on Chinese products. That’s unchanged from earlier in 2025 when a potential trade war with China was making bigger headlines. 

Although Americans don’t need to be convinced of the potential impact of tariffs, they also still see greed at play on the part of big businesses. More than two-thirds (70%) think businesses are using tariffs as an excuse to raise prices and increase their profits.

Americans Disapprove of Trump Administration International Policy, Remain Concerned About Geopolitical Tensions

Unfortunately, tariffs weren't the only issues of concern globally in the first half of 2025. Tensions have primarily been focused on the Middle East, where Israel and Iran recently became embroiled in a brief war as the former sought to destroy the latter’s nuclear weapons program. Meanwhile, international tensions remain high around the situation in Gaza. 

President Trump’s handling of these and other crises has earned him a relatively poor grade from Americans, with 55% disapproving of how his administration has approached international relations. At the same time, 87% remain concerned about geopolitical tensions.

Views are particularly strong about the United States’ role in recent international conflicts, such as the controversial decision to bomb an Iranian nuclear site in late June. In the wake of those U.S. strikes, 85% of Americans say the government should spend less money on foreign conflicts and more on helping its own citizens.

Concerns about conflict in the Middle East may be partially responsible for the 82% of Americans who are worried about rising gas prices. About 83% of Americans say rising gas prices would affect their budgets, with roughly 1 in 8 (13%) noting that any increase at all from current prices would have a significant impact on their budget.

More Than Two-Thirds Worried About the Real Estate Market, but Just 4 in 10 See Their Home Losing Value

The real estate market is also among Americans’ top concerns, with 71% saying they're worried, including nearly 1 in 4 (22%) who are extremely worried. But notably, just 39% are worried about their home losing value.

The reality of a cooling market after years of rapid post-pandemic growth seems to be setting in for many. About 1 in 3 Americans (33%) say their trust in the housing market has decreased in the past six months, more than 3x the number who say it increased (9%). Even as the market has remained relatively resilient in most areas, 70% are worried about a potential housing market crash, the same percentage as in March.

Not every generation is stressed about real estate equally — 78% of millennials are worried about the market, and 81% fear a crash. On the same issues, boomers are at just 65% and 63%, respectively, likely reflecting their more stable housing and financial situations. This can also be seen in worries about mortgage rates, which are cited by 79% of millennials but just 60% of boomers. 

This isn’t just an abstract concern about the market. Nearly 1 in 3 Americans (30%) are worried they won't be able to afford their housing payments in the next six months due to the economic climate, a statistic that hasn't significantly improved since our March survey.

On the whole, 54% oppose how the Trump administration is handling the housing market, and only 36% think the Trump administration is doing enough to support homeowners.

Almost half of Americans (47%) believe the federal government should prioritize working-class Americans in setting housing policy, more than twice as many as any other group. 

Meanwhile, 79% support regulating the housing market to prevent another affordability crisis. There’s also substantial support for expanding first-time homebuyer assistance programs, growing to 84% now vs. 79% earlier this year.

Still, the housing concerns certainly don’t end for those lucky enough to afford to buy. Almost all Americans (93%) are worried about rising insurance costs for their home, car, and health care. Americans haven’t gotten any less worried about the rising costs of home maintenance and repairs since March, either; an identical 89% say they're worried now as did back then. 

Nearly 9 in 10 Americans (88%) are concerned about rising property taxes, the same as when Clever surveyed them earlier this year. Unfortunately, 61% expect the problem to get worse in the coming months, while only 7% anticipate any improvement.  

Almost Half of Americans Concerned About the Impact of Deportations on Housing Costs

There’s no denying immigration remains a top issue for the American public, as months of increasing deportations culminated in widespread protests in June. Americans have a relatively conflicted view of the situation, with 41% saying illegal immigration is a main cause of economic issues in the United States. At the same time, 47% are concerned about the impact of deportations on housing costs and the economy. 

These competing feelings have led to an almost even split on the Trump administration’s handling of immigration, with 51% opposed and 49% in support. Strong opposition and support are also almost evenly matched, 37% to 34%, respectively.

Three-Quarters Concerned About Loss of Rights, While Two-Thirds See Risk of Political Violence Rising

Even as economic concerns have seen a small decrease in some areas, Americans seem to be more worried about the loss of rights or equality (such as reproductive rights, voting rights, marriage equality, and increased discrimination) than they were in March; 72% say so now, compared to 68% previously. 

These concerns are particularly acute among younger Americans. About 81% of millennials and Gen Zers are worried about a loss of rights and equality, compared to 72% of Gen X and 67% of boomers.

Despite frequent controversy and high-profile criticism, 53% of Americans oppose a federal ban on diversity, equity, and inclusion (DEI) policies in schools and workplaces. That’s similar to the 57% who supported diversity, equity, and inclusion efforts generally back in March. 

In the wake of the politically motivated shooting of two Minnesota Democratic state representatives and an increase in protests nationwide, 89% of Americans now say they’re worried about the risk of civil unrest or political violence in the U.S. Troublingly, almost two-thirds (63%) think the risk will get worse in the coming year, 7x the number who think the risk of political violence will lessen (9%). 

Even in less dire ways, there are other signs the political divide in America may still be widening. For example, nearly half of Americans (43%) have decreased their spending at businesses whose policies don't align with their views.

41% of Americans Trust the Federal Government Less Than at the Start of 2025

When all these issues are taken together, it should be no surprise that the first six months of the Trump administration have been a rough time for the federal government’s image, with 41% saying their trust in it has decreased over that time. Another 1 in 5 (19%) couldn’t trust it any less, as they say they simply don’t trust the federal government at all, exceeding the number who say they trust the feds more now than at the start of 2025 (17%). 

This combined 60% who either have seen their trust decrease or don’t trust the feds at all closely mirrors the public’s assessment of President Trump personally; 26% trust him less than six months ago, although 31% do not trust him at all. However, 1 in 5 (21%) say they trust Trump more than at the start of his second term.  

This sinking trust in the administration broadly is likely related to an identical 41% drop in trust in the Trump administration’s ability to manage the economy, alongside 18% who don’t trust the government at all on this front. Just 20% trust the federal government on this issue more than six months ago. 

Perhaps even more troubling, a majority of Americans have doubts about the U.S. government delivering accurate economic and financial data. Over 1 in 3 Americans (39%) say their trust in this has decreased in the past six months, while 18% don’t trust the Trump administration at all on this vital question. While there’s no evidence of active manipulation of economic information by the feds, a loss in confidence in the U.S. government’s published data could have significant effects on the business community, international investment, and the overall economy itself.  

Congress’s image has taken a similar beating, with 45% saying they trust the legislative body less than at the start of 2025. Another 1 in 5 (19%) don’t trust Congress at all.

Americans’ view of the press isn’t much rosier, as 59% believe media outlets exaggerate how good the economy is.

Methodology

Clever Offers surveyed 1,000 American adults about their perspectives on the economy, their personal finances, and political or social issues in 2025. This survey was conducted on June 25, 2025. For the overall pool of respondents, we’re 80% confident that these results are correct within +/- 2%, and 95% confident that they’re correct within +/- 3%.

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