Recent polling data reveals a marked decline in President Donald Trump's approval ratings, with a Fox News poll indicating that 59 percent of voters disapprove of his handling of the economy, the lowest since he returned to the White House. Contributing factors include ongoing cost of living pressures, a government shutdown, and general economic conditions. Political analyst Nate Silver notes that Trump's approval ratings have been on a continuous downward trajectory, reaching their lowest point during his second term.

The poll highlights that 76 percent of voters view the economy negatively, with significant majorities reporting increases in essential costs: 85 percent for groceries, 67 percent for health care, 66 percent for housing, and 78 percent for utility bills. In contrast, during a recent summit with McDonald's franchise owners, Trump claimed the nation is experiencing a 'golden age' with decreasing prices, despite evidence to the contrary regarding basic food items.

Trump's approval rating currently stands at 41 percent, lower than President Joe Biden's 44 percent in November 2021. Notably, 62 percent of voters hold Trump more accountable for the current economic situation compared to 32 percent who blame Biden. This sentiment is echoed by 42 percent of Republicans who attribute economic issues to Trump, while 53 percent believe Biden is responsible.

In a broader context, the stock market is facing its most challenging November since the 2008 financial crisis, with analysts suggesting a potential burst of the AI bubble following a brief increase due to positive earnings from Nvidia and a strong jobs report. Trump's approval rating has also seen a sharp decline, now reported at 38 percent according to Reuters, with a Marquette poll showing a disapproval rating of 72 percent regarding his handling of inflation.

The relationship between the declining stock market and Trump's approval ratings is complex. While some analysts predict a stock market crash and a possible recession, Trump's popularity has been waning since January, prior to the recent market downturn. Economic indicators suggest that inflation began to rise following the announcement of tariffs, and job creation saw a decline in mid-2023. Although consumer spending remains high, it is primarily driven by the wealthiest segment of the population, raising concerns about economic equity and sustainability.

In November, Trump faced additional challenges following the elections, where Democrats achieved notable victories, further impacting his political standing. Internal dissent within the Republican Party has surfaced, with figures like Marjorie Taylor Greene criticizing Trump for not effectively addressing the cost-of-living crisis. In response to economic pressures, Trump has made concessions by reducing tariffs on certain agricultural products, acknowledging that his previous policies may have exacerbated inflation. However, these measures are unlikely to satisfy public demand for lower prices, as many consumers were already struggling with high costs prior to these changes.

As Trump prepares to meet with newly elected New York City Mayor Zohran Mamdani, who campaigned on affordability issues, the contrast between their approaches to governance may further highlight the challenges Trump faces in maintaining his political influence. Overall, the trajectory of Trump's presidency appears to be one of increasing isolation and declining authority, with significant implications for the Republican Party and the broader political landscape as they approach the 2026 midterm elections.