Trump's Policies Lead to Higher Interest Rates, Further Eroding Voter Support
Trump's handpicked Fed chairman, Kevin Warsh, raised interest rates on May 8, 2017, warning of inflation being 'too high' for 'too long'. This decision was made just weeks before the midterms and could result in higher borrowing costs for Americans, particularly those struggling to make ends meet. The rate hike is also expected to increase mortgage rates, which are already at high levels.
The Federal Reserve's move was unanimous, with all 12 governors voting in favor of raising interest rates. This decision can be attributed in part to Trump's policies, including his tariffs and war in Iran, which have caused an energy shock. His tax cuts for the wealthy and increased spending have also raised concerns about deficits and inflationary pressure.
Additionally, Trump's obsession with President Kennedy has sparked new fears that he might demolish the Kennedy Center if he doesn't get his name on it. This fixation is seen as a sign of his growing narcissism and could further erode voter support for him.