Economist Stephen Moore highlights the growing economic momentum under President Trump, yet voter skepticism and cost-of-living concerns pose significant challenges for effective messaging.
Economist Stephen Moore asserts that economic momentum is building under President Donald Trump, but translating these gains into political advantage will require more effective messaging. Despite improving economic indicators, many voters remain skeptical.
“There’s a perception and there’s reality,” Moore explained in an interview with Fox News Digital. “The reality is what the numbers show — that median family income is up by about $1,200 this year, adjusted for inflation. We’re seeing real increases in wealth. Anyone investing in the stock market — not just rich people, but about 160 million Americans — has retirement savings in stocks.”
However, Moore, a former Trump adviser and co-founder of the free-market advocacy organization Unleash Prosperity, acknowledged that rising everyday costs continue to shape public perception of the economy. “People tend to focus on the things that are rising in price, and I understand that,” he said. “But there are also areas where costs have fallen, including gasoline, airline tickets, and some everyday items.”
This disconnect between economic data and voter sentiment presents a political challenge for Trump. He returned to the White House promising affordability but now faces doubts about whether that pledge is being fulfilled. A recent Fox News national survey found that 76% of voters rate the economy negatively, an increase from 67% in July and 70% at the end of former President Joe Biden’s term. The poll indicated that voters are more likely to blame Trump than Biden for current economic conditions, with three times as many respondents stating that Trump’s policies have personally hurt them.
This sentiment has fueled Democratic messaging focused on affordability, which has resonated in recent state and local elections. Moore noted that the disconnect is not solely about rising prices; it also relates to the tone of communication from the administration. “I think people want empathy from the president,” he said. “People in the middle and working class want to know that this president understands the struggles of working 40 hours a week and still having a hard time meeting their bills.”
To bridge this gap, Moore compared Trump’s current challenge to that faced by Ronald Reagan during the early months of his presidency, which followed economic difficulties under Jimmy Carter. He suggested that this dynamic mirrors the aftermath of the Biden administration.
“Trump should use an old line from Ronald Reagan, because Reagan’s first 18 months in office were very tough,” Moore said. “We had a very bad economy as a residual effect from Jimmy Carter. And Reagan told the American people, stay the course, these policies are going to work and they’re going to make America better off.”
Moore expressed optimism about the current economic trajectory, stating that recent data indicate the recovery is accelerating. “In the last couple of months, the economy has really sped up,” he said. “At 4.3% growth, that’s a very high rate, and the recovery is well in progress. It’s been a very prosperous first year, and I expect 2026 to bring very strong continued economic growth.”
As the Trump administration navigates these challenges, the effectiveness of its messaging will be crucial in shaping public perception and addressing voter concerns about the economy, according to Moore.
According to Fox News, the ongoing economic narrative will require careful attention to both data and the emotional tone conveyed to the American public.