Americans are currently more anxious about their economic future than they were during the 2008 financial meltdown or the COVID-19 pandemic, driven by what top economist Justin Wolfers calls unprecedented “policy chaos” emanating from the White House.

Lowest Confidence In History

Despite President Donald Trump's insistence that the economy is “BOOMING” and his claims that Americans “have never had it better,” consumer sentiment tells a different story, according to this economist.

Wolfers notes that consumer confidence has plummeted to its lowest level in measured history. Speaking in a recent interview, in a direct critique of the administration’s strategy, Wolfers states: “This doesn’t feel like a White House that’s running a coherent, well-thought-out economic policy.”

Consumer confidence weakened for a fifth consecutive month in December 2025, according to the US Consumer Confidence Board data.

Wolfers asserts that “policy chaos is an economic variable” in itself. When leadership is unpredictable—imposing and reversing tariffs or rattling sabers—uncertainty forces businesses to delay hiring and households to postpone major purchases.

Policy chaos ...