A recent poll reveals a contrast between baby boomers and millennials regarding President Donald Trump’s handling of the U.S. economy, highlighting generational differences in economic perspectives.
Why It Matters
The U.S. economy is experiencing mixed signals, with stable growth yet rising concerns about inflation and tariffs. A January NPR/PBS News/Marist poll indicates that 59 percent of Americans feel the economy is not working well for them, up from 29 percent in February 2020.
A new poll shows a generational divide in how Trump has handled the economy so far. Baby boomers showed the most dissatisfaction of any generation with the direction Trump is moving the U.S. economy, while a majority of millennials expressed satisfaction with Trump’s handling of the economy.
What To Know
The NPR/PBS News/Marist poll conducted from February 24 through February 26, surveyed 1,694 adults nationwide. The findings show a generational divide in perceptions of the economy.
When asked how “would you describe the direction in which President Trump is moving the U.S. economy?” 50 percent of baby boomers say it has changed for the worse compared to 39 percent who say it has changed for the better. Millennials had a more positive outlook: 46 percent say it has changed for the better compared to 43 percent who say it has changed for the worse.
The U.S. economy, as of early 2025, presents a complex picture. The Conference Board’s Leading Economic Index (LEI) for the U.S. fell by 0.3 percent in January, suggesting a potential slowing in economic activity. Additionally, consumer confidence has declined, with the Expectations Index dropping 9.3 points to 72.9 in February, signaling recession concerns.
Experts suggest that baby boomers’ disapproval may stem from concerns about inflation and the impact of new tariffs. In contrast, millennials, who may be less affected by immediate inflationary pressures, could be more optimistic about job prospects and wage growth, leading to higher approval of current economic policies.
Kevin Thompson and Alex Beene both emphasize the generational divide in economic outlooks, pointing to the role of experience and financial priorities. Thompson, founder and CEO of 9i Capital Group, told Newsweek that baby boomers, having lived through multiple economic downturns, recognize familiar warning signs and are particularly concerned about rising costs for essential goods.
Beene, financial literacy instructor for the University of Tennessee at Martin, similarly told Newsweek that boomers, closer to retirement, worry about savings and escalating expenses.
Meanwhile, both experts suggest millennials have a different perspective. Thompson argues that millennials, having mostly experienced low interest rates and cheap capital, may not see current economic challenges as alarming. Beene reinforces this by stating that millennials are still building their financial futures, which allows them to remain more patient with the administration’s policies. Both perspectives highlight that generational financial experiences shape economic perceptions in distinct ways.
What People Are Saying
Alex Beene, financial literacy instructor for the University of Tennessee at Martin, told Newsweek: “For many Baby Boomers, they’re racing toward retirement and realizing their post-work savings may not be enough, especially with escalating prices. The early days of the new administration haven’t shown much progress on the pricing front, and with fears of tariffs and other impending economic pain points, it’s easy to see why some are concerned a turnaround in cost savings isn’t coming any time soon.
At the same point, Millennials are becoming more established in their careers, earning more, and have a longer timeline ahead of them in terms of not just retirement savings, but other financial goals. Their patience with the new administration and economic policies they’re utilizing goes further. The real question is if more time goes by and there hasn’t been much change in inflationary pressures, will that same optimism persist or more start to reflect the mindset of Baby Boomers?”
Kevin Thompson, founder and CEO of 9i Capital Group, told Newsweek: “Many of my Baby Boomer clients, who have lived through multiple economic cycles, share a common sentiment: the cost of essential goods—especially food, prescriptions, and healthcare—continues to rise unpredictably. One client recently explained how pharmacy pricing fluctuates depending on which insurance card is used, and how pharmacists can leverage a Universal Rx system to find the lowest available price. This kind of unpredictability adds to their frustration.
Additionally, Boomers have seen this before—they lived through the economic consequences of World War II, the Civil Rights era, and the Vietnam War, among other major historical events….Their unfavorable view of the economy today suggests they see warning signs reminiscent of past economic downturns.
Millennials, on the other hand, lack the same breadth of experience to compare today’s economy with past crises. While they’ve lived through the 2008 financial crisis and a global pandemic, this is their first real exposure to mild inflationary pressures….Without a deep historical reference point, Millennials may perceive today’s economic conditions as relatively stable—even if Boomers see red flags.”
What Happens Next
President Trump has set a March 4th deadline to begin imposing tariffs on Canada and Mexico, with a 25 percent tariff on all imports from these countries. Additionally, Trump plans to raise tariffs on Chinese imports to 20 percent from the current 10 percent. These tariffs are expected to impact the economy by increasing the cost of goods and potentially leading to higher inflation.
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