May 8, 2026
While we adhere to strict editorial guidelines, partners on this page may provide us earnings.
During the 2024 presidential campaign, Donald Trump's approval ratings on the economy and inflation were among his key weapons. But just 15 months into his second term, the approval rating has plummeted so deeply and abruptly that CNN's Harry Enten (1) thought it was a typo.
According to Enten, the "switcheroo" is staggering. Back in late 2024, Trump had a 9-point lead over his rival Vice President Kamala Harris on inflation with independent voters. In 2026, his approval rating with this cohort dropped to negative 70 percentage points – a total 79-point swing.
Advertisement
"Honestly, I went through the spreadsheets because I was so concerned I somehow mistyped something," Enten said. "My goodness gracious, you rarely ever see numbers this bad with independents, but that's exactly where the President is on inflation."
The ongoing war in the Middle East and its impact on fuel prices could be part of the reason why politically unaffiliated Americans are growing severely dissatisfied with the Trump economy.
Persian Gulf crisis
The price of crude oil has surged roughly 40% since the Iran war began and the Strait of Hormuz was shut, according to CNBC (2). This sharp rise in fuel costs has a knock-on impact on the rest of the economy. According to the Bank of England, (3) "Higher energy costs will also feed through indirectly to consumer prices as firms pass higher costs through their supply chains."
But you don't need to be a central banker to notice the link. A Quinnipiac University poll (4) found that 73% of independents blame Trump for the recent rise in gasoline prices, including 53% who blame him "a lot" and 20% who blame him "some."
If the crisis continues or escalates, ordinary Americans could be bracing for more sticker shocks ahead.
Must Read
- Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake — are you doing the same?
- Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how
- Robert Kiyosaki says this 1 asset will surge 400% in a year and begs investors not to miss this ‘explosion’
Join 250,000+ readers and get Moneywise’s best stories and exclusive interviews first — clear insights curated and delivered weekly. Subscribe now.
Shield yourself from inflation
Investors and savers who've experienced previous waves of inflation probably recognize the value of alternative assets or hard assets that retain their value when currency weakens.
Advertisement
Gold, for instance, is a popular inflation hedge. Platforms like Priority Gold can help you add exposure to this precious metal, combined with the tax benefits of an IRA. The so-called Gold IRA enables investors to hold physical gold or gold-related assets in a traditional retirement account.
To learn more, you can get a free information guide that includes details on how to get up to $10,000 in free silver on qualifying purchases.
For seasoned investors with portfolios of $50K or more, you might consider diversifying your nest egg through a flat-fee self-directed retirement account.
A self-directed retirement account is a tax-advantaged individual retirement account (IRA) that lets investors allocate funds to a significantly broader range of alternative assets than typical IRAs offered by banks or brokerage firms.
While traditional IRAs limit options to stocks, bonds and mutual funds, a self-directed account allows you to invest in real estate, cryptocurrency, private businesses, precious metals and private lending.
Advertisement
IRA Financial gives you the freedom to invest in alternative assets like real estate, private equity, precious metals, and crypto within a self-directed retirement account. And now you can add real-time, public market investing, powered by Interactive Brokers, a trusted global brokerage.
For the first time, you can manage both traditional and alternative assets seamlessly within a single self‑directed retirement structure, all for a flat fee.
Complete the application online in minutes to open your self‑directed retirement account with stock trading access powered by Interactive Brokers.
While you can't avoid inflation or resolve the Persian Gulf crisis, you can prepare your own finances to sail through the volatility with minimal impact.
Article Sources
We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines.
YouTube (1); CNBC (2); Bank of England (3); Quinnipiac University (4)
You May Also Like
- Turning 50 with $0 saved for retirement? Most people don’t realize they’re actually just entering their prime earning decade. Here are 6 ways to catch up fast
- Inside a $1B real estate fund offering access to thousands of income-producing rental properties — with flexible minimums starting at $10
- Vanguard’s outlook on U.S. stocks is raising alarm bells for retirees. Here’s why and how to protect yourself
- Here are 5 easy ways to own multiple properties like Bezos and Beyoncé. You can start with $10 (and no, you don’t have to manage a single thing)
Vishesh Raisinghani is a financial journalist covering personal finance, investing and the global economy. He's also the founder of Sharpe Ascension Inc., a content marketing agency focused on investment firms. His work has appeared in Moneywise, Yahoo Finance!, Motley Fool, Seeking Alpha, Mergers & Acquisitions Magazine and Piggybank.
