FOX news / USA
Kingsview Wealth Management Chief Investment Officer Scott Martin argued on Sunday that the condition of the U.S. economy is “terrible” as inflation reached a new 40-year high.
Martin, a FOX Business contributor, made the comment on “Fox News Live” reacting to the latest Fox News survey, which found that almost all voters are worried about inflation and that large numbers continue to rate the economy negatively with a majority expecting the situation to be worse next year.
Only 17% of respondents rated the economy positively, the lowest in nearly 10 years. Eighty-four percent said it is in only fair or poor shape. And a 52% majority thinks it will be worse next year. This is the first time in intermittent surveys going back to 1998 that over half have felt the economy will be worse a year from now.
Meanwhile, 52% have changed their summer travel plans because of gas prices, 70% have had to cut back on other spending to afford necessities, and 75% say inflation has caused them financial hardship — up from 67% in December.
Many fault the White House for the economic woes. Fifty-five percent say the administration has made the economy worse, and more voters blame Biden (31%) for gas prices than think Russia (20%) or oil companies (14%) are responsible.
Martin predicted that “you are going to see the polls continue to fall as some of the economic data, the inflation numbers continue to get worse.”