Voters weigh economic record on eve of midterm elections

On the eve of the November 3 elections, American voters are heading to the polls to decide the future control of Congress, with the economic record of President Donald Trump’s second term serving as a central focus. Despite the lack of Trump’s name on the ballot, his policies—particularly the implementation of tariffs and the ongoing conflict involving Iran—have become significant points of contention for a public struggling with persistent inflation.

While macroeconomic data reveals a nuanced situation, including historically low unemployment rates and consistent economic growth fueled by an artificial intelligence investment boom, public sentiment remains largely dissatisfied. Consumer surveys indicate a downward trend in mood since January 2025. Although inflation is lower than in previous years, households report feeling the direct impact of rising costs for utilities, fuel, and food, which has overshadowed the growth seen in retirement accounts and stock market performance.

This election acts as a referendum on the current administration's fiscal strategies. While strong labor statistics and high employment numbers serve as positive indicators, the prevailing sense of economic frustration among the electorate is expected to play a critical role in determining the balance of power within the legislative branch.