
Trump's disapproval rating hits record for second term
The survey, conducted over the weekend, shows 55 percent disapprove of the way Trump is handling his job, compared to 41 percent who approve.
The most recent poll marks a slight shift from the prior week, when 53 percent disapproved and 42 percent approved of the job he was doing as president. The week before that saw the same results.
Trump started his second term with 49 percent approval and 43 percent disapproval.
Trump saw lower support in mid-June, when 40 percent approved of his handling of the presidency, but only 54 percent disapproved at the time — short of the record 55 percent in the latest poll.
The overall dip in approval since Trump took office has been driven largely by falling support among Democrats and independents.
In the poll conducted in late January, Trump's approval rating among Democrats was at 12 percent. Today, only 3 percent approve of the president.
A similar shift exists among independents, 41 percent of whom approved of the president right after he took office in January, compared to just 29 percent today.
Republicans, meanwhile, see virtually no change in their level of support for the president. When Trump took office, 94 percent approved of his handling of the job — similar to the 92 percent who approve today.
The Economist/YouGov survey separates the self-identified MAGA Republicans from those Republicans who say they don't identify with the MAGA movement — with each group representing half of all Republicans surveyed.
Among self-identified MAGA Republicans, Trump's approval rating has consistently hovered at around 98 percent.
Republicans who don't identify with the MAGA movement, however, began Trump's term approving of the president at a rate of 90 percent. By mid-April, that dropped to 70 percent, and, by the latest poll, that share is back up to 85 percent.
The latest Economist/YouGov poll includes 1,680 U.S. adults and was conducted July 11-14. The margin of error is 3.4 percentage points.

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Trump reportedly plans to fire Fed Chair Powell 'soon' as pressure increases on the central bank
President Trump appears to be inching closer to firing Jerome Powell as Federal Reserve chair, according to news reports and his own comments. Bloomberg reported that the president is likely to fire Powell "soon," quoting a White House official, and CBS News reported Wednesday that Trump posed the question of whether he should do so during a meeting in the Oval Office Tuesday night with House GOP members. Some lawmakers agreed; and several indicated he will do it. These reports come after Trump on Tuesday told reporters that Powell's handling of a $2.5 billion renovation of the Federal Reserve headquarters 'sort of is' a fireable offense. Any final move by the president to oust the Fed chair could lead to a legal war with Powell, who has argued he can't be removed by law. The president also appeared in his latest comments to narrow his choices to replace Powell. Treasury Secretary Scott Bessent is an "option," but not the top choice, 'because I like the job he is doing,' he said. The Washington Post and Bloomberg reported this week that National Economic Council Director Kevin Hassett is rising as an early front-runner in the race to replace Powell, although former Fed governor Kevin Warsh is also under consideration. Fed governor Christopher Waller is another possibility. Bessent, though, is 'probably not that much of an option," Trump said Tuesday, citing what he views as his good performance as Treasury secretary. "He's a very soothing force." Trump has been hammering Powell for months over what Trump viewed as a refusal to ease monetary policy for political and personal reasons, referring to Powell publicly as 'dumb,' a numbskull,' a 'stubborn mule,' 'stupid,' a 'moron,' and a 'fool.' Trump nominated Powell for the Fed chair seat during his first administration, and his current term is scheduled to run until May of 2026. Read more: How much control does the president have over the Fed and interest rates? Trump's allies in recent weeks have used another tactic to turn up the pressure on Powell: They have invoked a $2.5 billion renovation of the Fed's headquarters as a way to question the chair's management of the institution and whether he told Congress the truth about the project during testimony in June. Trump said Tuesday that "the one thing I wouldn't have guessed is he would be spending two and a half million dollars to build a little extension onto the Fed." When asked if it was a fireable offense, Trump said, "I think it sort of is, because if you look at his testimony ... he's not talking about the problem. It's a big problem." One House republican, Florida Rep. Anna Paulina Luna, posted on X Tuesday night: "Hearing Jerome Powell is getting fired! From a very serious source" and later added: "I'm 99% sure firing is imminent." CBS also reported that some members of the House Financial Services Committee, which acts as oversight for the Fed, were planning to meet with Powell on Wednesday night, and that some want to reinforce his independence. Top administration officials have sent mixed signals about how far Trump would go with Powell. Hassett said Sunday on ABC News's "This Week" that whether the president has the legal authority to fire Powell before his term is up next May "is being looked into" and that "certainly, if there's cause, he does." But Treasury Secretary Scott Bessent told Bloomberg Tuesday that the president "said numerous times he's not going to fire Jay Powell" and compared Trump's public pressure to former college basketball coach Bobby Knight "working the refs." "President Trump seems to prefer the Bobby Knight school," he said. Bessent also said Tuesday, "there's a formal process that's already starting" to find Powell's replacement. He also hopes Powell decides to leave the Fed board when his term as chair is up. His seat on the Fed Board of Governors is not up until 2028. Trump, too, has sent mixed signals in recent months about whether he would seek to remove Powell, musing about it publicly before assuring he wouldn't do it. Wall Street is paying close attention to the drama unfolding in Washington, D.C. JPMorgan Chase (JPM) CEO Jamie Dimon said Tuesday that the independence of the Federal Reserve is "absolutely critical" and warned that "playing around with the Fed can often have adverse consequences." A firing by Trump could potentially open a new legal war with Powell, who has argued that his removal is 'not permitted by law.' The only language in law pertaining specifically to the removal of Fed board members can be found in Section 10 of the Federal Reserve Act. The law states that each member of the board shall hold office for 14 years "unless sooner removed for cause by the President." The statute doesn't have any language that specifically addresses the chair of the Board of Governors, nor does it detail what exactly constitutes "for cause." The term has been interpreted in legal rulings to mean "inefficiency, neglect of duty, or malfeasance." But Powell and the Fed could still have the backing of the Supreme Court, which made it clear in a May decision it might protect the central bank even as it allowed Trump to fire the board members of two other independent agencies: the National Labor Relations Board and the Merit Systems Protection Board. The central bank, the court said, 'is a uniquely structured, quasi-private entity that follows in the distinct historical tradition of the First and Second Banks of the United States.' What Trump is trying to challenge is a 90-year-old Supreme Court precedent limiting the power of the president to dismiss independent agency board members except in cases of neglect or malfeasance. 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Yahoo
16 minutes ago
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Stock market today: Dow, S&P 500, Nasdaq lose steam after reports say Trump nearing call to fire Powell
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Dollar crushed as Trump appears to move closer to firing Powell The drumbeat that President Trump will fire Fed Chair Jerome Powell got louder Wednesday, with reporting from CBS News, Bloomberg, CNBC, and The New York Times all adding to the sense that Trump is getting closer to making the unprecedented move. Stocks were lower following the news, but the biggest move in markets was coming from the foreign exchange market, where the dollar was getting crushed against other major currencies. The dollar quickly fell as much as 1% against the Japanese yen, lost about 0.7% against the euro, and fell about 0.5% against the British pound. The dollar index fell about 0.7%. Trump has for some time complained about Powell's lack of aggressive rate cuts this year, saying the Fed chair is "too late," among other barbs. And while the spat between Trump and Powell — who was named Fed chair by Trump during his first term in office — has now spanned multiple administrations, some on Wall Street also see Trump's desire to cut Powell as coming back to aiding his key economic agenda: tariffs. "There is method to President Donald Trump's madness regarding Fed Chair Jerome Powell," Ed Yardeni of Yardeni Research wrote in a note to clients on July 1. "Trump has been hammering Powell almost daily recently because doing so is very effectively hammering the foreign-exchange value of the dollar. Trump wants a weaker dollar to boost US exports and depress US imports. He has said that he favored a weaker dollar many times in the past, but now he has found a way to achieve that: by beating up on Powell." As for whether Trump will be able to fire Powell, the Supreme Court in May issued a ruling that walled off the Federal Reserve from other independent agencies that had their leaders removed by Trump. The drumbeat that President Trump will fire Fed Chair Jerome Powell got louder Wednesday, with reporting from CBS News, Bloomberg, CNBC, and The New York Times all adding to the sense that Trump is getting closer to making the unprecedented move. Stocks were lower following the news, but the biggest move in markets was coming from the foreign exchange market, where the dollar was getting crushed against other major currencies. The dollar quickly fell as much as 1% against the Japanese yen, lost about 0.7% against the euro, and fell about 0.5% against the British pound. The dollar index fell about 0.7%. Trump has for some time complained about Powell's lack of aggressive rate cuts this year, saying the Fed chair is "too late," among other barbs. And while the spat between Trump and Powell — who was named Fed chair by Trump during his first term in office — has now spanned multiple administrations, some on Wall Street also see Trump's desire to cut Powell as coming back to aiding his key economic agenda: tariffs. "There is method to President Donald Trump's madness regarding Fed Chair Jerome Powell," Ed Yardeni of Yardeni Research wrote in a note to clients on July 1. "Trump has been hammering Powell almost daily recently because doing so is very effectively hammering the foreign-exchange value of the dollar. Trump wants a weaker dollar to boost US exports and depress US imports. He has said that he favored a weaker dollar many times in the past, but now he has found a way to achieve that: by beating up on Powell." As for whether Trump will be able to fire Powell, the Supreme Court in May issued a ruling that walled off the Federal Reserve from other independent agencies that had their leaders removed by Trump. Stocks sink as Trump moves to fire Powell President Trump asked Republican members of the House of Representatives if he should fire Fed Chair Jerome Powell in the Oval Office on Tuesday night, CBS News reported Wednesday, citing unnamed sources. The New York Times reported that Trump had showed off a draft of a letter firing Powell during the meeting. The Republican representatives voiced approval for such a move, CBS reported. Shortly after the CBS report, Bloomberg reported that Trump is likely to fire Powell soon, citing a White House official. All three major indexes fell after the news to touch lows for the day. The S&P 500 (^GSPC) fell 0.45%, while the Dow Jones Industrial Average (^DJI) fell 0.3%. The Nasdaq Composite (^IXIC) dropped nearly 0.6%. The US Dollar DXY ( fell roughly 0.9% following the news. Meanwhile, bets on Fed rate cuts rose from earlier in the day after weaker-than-expected inflation data out earlier Wednesday morning. As of late Wednesday morning, traders saw a more than 70% chance of the Fed cutting rates in September, versus roughly 56% earlier in the day, according to CME Group. President Trump asked Republican members of the House of Representatives if he should fire Fed Chair Jerome Powell in the Oval Office on Tuesday night, CBS News reported Wednesday, citing unnamed sources. The New York Times reported that Trump had showed off a draft of a letter firing Powell during the meeting. The Republican representatives voiced approval for such a move, CBS reported. Shortly after the CBS report, Bloomberg reported that Trump is likely to fire Powell soon, citing a White House official. All three major indexes fell after the news to touch lows for the day. The S&P 500 (^GSPC) fell 0.45%, while the Dow Jones Industrial Average (^DJI) fell 0.3%. The Nasdaq Composite (^IXIC) dropped nearly 0.6%. The US Dollar DXY ( fell roughly 0.9% following the news. Meanwhile, bets on Fed rate cuts rose from earlier in the day after weaker-than-expected inflation data out earlier Wednesday morning. As of late Wednesday morning, traders saw a more than 70% chance of the Fed cutting rates in September, versus roughly 56% earlier in the day, according to CME Group. Expectations for Fed rate cuts in September are falling Investor speculation that the Fed will hold rates steady not just this month but also in September is growing. According to the CME Group, traders are pricing in a 44% chance that the Fed will not cut rates in September, up from 30% last week. Investors see a more than 54% probability of a 25 basis point cut in September, down from roughly 66% last week. And traders are betting that there's a slim 1.4% chance that the central bank will cut rates by 50 basis points, down from 4.2% last week. Investor speculation that the Fed will hold rates steady not just this month but also in September is growing. According to the CME Group, traders are pricing in a 44% chance that the Fed will not cut rates in September, up from 30% last week. Investors see a more than 54% probability of a 25 basis point cut in September, down from roughly 66% last week. And traders are betting that there's a slim 1.4% chance that the central bank will cut rates by 50 basis points, down from 4.2% last week. Johnson & Johnson stock climbs after earnings beat Johnson & Johnson (JNJ) stock climbed nearly 5% Wednesday after the drugmaker's latest earnings results topped expectations and the company raised its financial outlook for the year. The pharma giant reported revenues of $23.7 billion, higher than the $22.8 billion expected by Wall Street analysts. Earnings per share came in at $2.77, compared to the $2.66 projected, Yahoo Finance's Anjalee Khemlani reports. The company also raised its revenue guidance for the year to a range between $93.2 billion and $93.6 billion, up from its prior range of $91 billion to $91.8 billion. JNJ lifted full year earnings per share guidance by $0.25 to $10.85. Khemlani writes: Read more about JNJ's latest earnings results here. Johnson & Johnson (JNJ) stock climbed nearly 5% Wednesday after the drugmaker's latest earnings results topped expectations and the company raised its financial outlook for the year. The pharma giant reported revenues of $23.7 billion, higher than the $22.8 billion expected by Wall Street analysts. Earnings per share came in at $2.77, compared to the $2.66 projected, Yahoo Finance's Anjalee Khemlani reports. The company also raised its revenue guidance for the year to a range between $93.2 billion and $93.6 billion, up from its prior range of $91 billion to $91.8 billion. JNJ lifted full year earnings per share guidance by $0.25 to $10.85. Khemlani writes: Read more about JNJ's latest earnings results here. US stocks edge up at the open US stocks inched higher Wednesday morning as investors digested another round of corporate earnings results and a wholesale inflation checkup. The Dow Jones Industrial Average (^DJI) rose about 0.3% after shedding over 400 points on Tuesday, while the S&P 500 (^GSPC) was up nearly 0.2%. The tech-heavy Nasdaq Composite (^IXIC) was just above the flatline after notching a fresh record Tuesday as AI chipmaker Nvidia (NVDA) hit a new high. Shares of Johnson & Johnson (JNJ), Bank of America (BAC) and Goldman Sachs (GS) rose after reporting solid earnings results, while Morgan Stanley (MS) stock fell despite the bank's own earnings report topping Wall Street's projections. US stocks inched higher Wednesday morning as investors digested another round of corporate earnings results and a wholesale inflation checkup. The Dow Jones Industrial Average (^DJI) rose about 0.3% after shedding over 400 points on Tuesday, while the S&P 500 (^GSPC) was up nearly 0.2%. The tech-heavy Nasdaq Composite (^IXIC) was just above the flatline after notching a fresh record Tuesday as AI chipmaker Nvidia (NVDA) hit a new high. Shares of Johnson & Johnson (JNJ), Bank of America (BAC) and Goldman Sachs (GS) rose after reporting solid earnings results, while Morgan Stanley (MS) stock fell despite the bank's own earnings report topping Wall Street's projections. Trending tickers: J&J, ASML, Goldman Sachs, SharpLink Gaming Here's a look a the top trending tickers in premarket trading as earnings season kicks off: Read more live coverage of earnings season here. Here's a look a the top trending tickers in premarket trading as earnings season kicks off: Read more live coverage of earnings season here. Wholesale prices increase less than expected in June Wholesale prices rose less than expected in June. Wednesday's report from the Bureau of Labor Statistics showed that its producer price index (PPI) — which tracks the price changes companies see — rose 2.3% from the year prior, below the 2.7% seen in May and lower than the 2.5% increase economists had projected. On a monthly basis, prices were flat. Economists had expected 0.2% increase. Excluding food and energy, "core" prices rose 2.6% year over year, below the 3.2% gain seen in May. Economists had expected an increase of 2.7%. Meanwhile, month-over-month core prices were flat below the 0.2% increase economists had expected and the 0.3% gain seen last month. The report follows Tuesday's Consumer Price Index (CPI) report which showed core price increases accelerated to 2.9% in June. Wholesale prices rose less than expected in June. 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Goldman stock gains as trading and dealmaking boosts profits Shares of Goldman Sachs (GS), JPMorgan Chase (JPM), and Citigroup (C) were moving higher in premarket trading on Wednesday after the Wall Street firms reported higher dealmaking and trading revenue this week to kick off earnings season. Yahoo Finance's David Hollerith reports: Read more here. Shares of Goldman Sachs (GS), JPMorgan Chase (JPM), and Citigroup (C) were moving higher in premarket trading on Wednesday after the Wall Street firms reported higher dealmaking and trading revenue this week to kick off earnings season. Yahoo Finance's David Hollerith reports: Read more here. Markets are now ho-hum about tariff threats. Trump and Wall Street disagree about why. Yahoo Finance's Ben Werschkul reports: Read more here. Yahoo Finance's Ben Werschkul reports: Read more here. Chip linchpin ASML warns on 2026 growth amid tariff headwinds ASML (ASML, shares slumped almost 8% in premarket trading after the chip industry linchpin said it may not achieve growth in 2026. The warning came even as the world's biggest supplier of chipmaking gear's second quarter bookings topped Wall Street estimates on Wednesday. Reuters reported: Read more here. ASML (ASML, shares slumped almost 8% in premarket trading after the chip industry linchpin said it may not achieve growth in 2026. The warning came even as the world's biggest supplier of chipmaking gear's second quarter bookings topped Wall Street estimates on Wednesday. Reuters reported: Read more here. Gold rises as trade war fears bolster haven asset Gold (GC=F) rose overnight Tuesday as a wave of tariff updates did little to appease flighty investors looking for safe investments. With multiple rocky trade deals on the table, markets have pushed back into the valuable metal which has risen by over 25% this year so far. Bloomberg reports: Read more here. Gold (GC=F) rose overnight Tuesday as a wave of tariff updates did little to appease flighty investors looking for safe investments. With multiple rocky trade deals on the table, markets have pushed back into the valuable metal which has risen by over 25% this year so far. Bloomberg reports: Read more here. Trump order to open up private investment to retirement plans. President Trump is in the process of signing an executive order that will allow retirement plan providers to invest more heavily in private assets, according to those familiar with the matter. The order should take place within the next few days and will open up retirement plans to riskier investments. Reuters reports: Read more here. President Trump is in the process of signing an executive order that will allow retirement plan providers to invest more heavily in private assets, according to those familiar with the matter. The order should take place within the next few days and will open up retirement plans to riskier investments. Reuters reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
16 minutes ago
- Yahoo
Donald Trump Slams Backers Who Continue To Talk About 'Jeffrey Epstein Hoax': 'I Don't Want Their Support Anymore!'
Donald Trump again expressed his irritation over a split in his MAGA base over his administration's contention that there's no there there when it comes to convicted sex offender Jeffrey Epstein. In a Truth Social post on Wednesday, Trump wrote that the Epstein story has been orchestrated by Democrats. But figures in his administration, like FBI Director Kash Patel, Vice President JD Vance and Deputy FBI Director Dan Bongino had pushed conspiracy theories surrounding Epstein before taking their administration posts. More from Deadline Senate Votes To Advance Trump's Effort To Rescind Funding For PBS, NPR And Public Media 'Trump's Power & The Rule Of Law': Michael Kirk On His Latest 'Frontline' About POTUS' Power Play And Why It Might Lead To Supreme Court Showdown Donald Trump's DOJ Again Seeks To Remove Three Board Members From Corporation For Public Broadcasting Trump wrote on Truth Social, 'The Radical Left Democrats have hit pay dirt, again! Just like with the FAKE and fully discredited Steele Dossier, the lying 51 'Intelligence' Agents, the Laptop from Hell, which the Dems swore had come from Russia (No, it came from Hunter Biden's bathroom!), and even the Russia, Russia, Russia Scam itself, a totally fake and made up story used in order to hide Crooked Hillary Clinton's big loss in the 2016 Presidential Election, these Scams and Hoaxes are all the Democrats are good at – It's all they have – They are no good at governing, no good at policy, and no good at picking winning candidates. Also, unlike Republicans, they stick together like glue. 'Their new SCAM is what we will forever call the Jeffrey Epstein Hoax, and my PAST supporters have bought into this 'bullshit,' hook, line, and sinker. They haven't learned their lesson, and probably never will, even after being conned by the Lunatic Left for 8 long years. I have had more success in 6 months than perhaps any President in our Country's history, and all these people want to talk about, with strong prodding by the Fake News and the success starved Dems, is the Jeffrey Epstein Hoax. Let these weaklings continue forward and do the Democrats work, don't even think about talking of our incredible and unprecedented success, because I don't want their support anymore! Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!' Trump has been trying to tamp down the Epstein talk since there has been a backlash among some of his most prominent allies over how the administration has handled the investigation. In February, Attorney General Pam Bondi was asked on Fox news about a supposed Epstein client list. 'It's sitting on my desk right now to review,' Bondi said then. Last week, Bondi said that she meant that she had the Esptein file to review, while the Justice Department has said that there was no evidence that there was a client list. Patel wrote on X on Saturday, 'The conspiracy theories just aren't true, never have been. It's an honor to serve the President of the United States @realDonaldTrump — and I'll continue to do so for as long as he calls on me.' On podcaster Benny Johnson's show in 2023, Patel suggested that the FBI was withholding the client list because it contained the names of prominent figures. 'Put on your big boy pants and let us know who the pedophiles are,' Patel shouted at congressional Republicans. Figures like Megyn Kelly, who backed Trump last year, have continued to call on greater transparency from the administration. Joe Rogan, who also supported Trump, has mocked the administration's response. Best of Deadline Everything We Know About Amazon's 'Verity' Movie So Far 'Street Fighter' Cast: Who's Who In The Live-Action Arcade Film Adaption 2025-26 Awards Season Calendar: Dates For Emmys, Oscars, Grammys & More