According to a poll conducted at the end of 2022, Americans were feeling quite pessimistic about the coming year. 90 percent of Americans felt negatively about the prospect of political conflict in 2023.

The Economy 2022 was a difficult year for many Americans, as it was for many around the world. After a year of high inflation, record fuel prices, and decreased financial security, the country greeted 2023 with high rates of skepticism and caution. Although the U.S. economy itself has experienced a strong rebound from the pandemic recession compared with other major economies, a sustained decline in consumer spending power thanks to wage growth not keeping pace with inflation has everyday Americans feeling the pinch.

U.S. political landscape The political scene in the U.S. also had a tumultuous few years in the lead up to 2023. The election of Donald Trump as the 45th President of the United States in 2016 left many voters reeling and the country more divided than ever. The beginning of 2021 was market by the January 6th attack on the Capitol, as well as the inauguration of Joe Biden. Additionally, the country continued to grapple with a politicized response to the COVID-19 pandemic and associated restrictions. 2022 began with the Russian invasion of Ukraine, ushering in the beginning of a global fuel and inflation crisis. In the midst of hardening economic conditions, the Supreme Court overturned its ruling on Roe v. Wade, returning the power to decide abortion restrictions to state legislatures.

The 2022 midterm elections saw Republicans win enough seats to take back control of the House of Representatives, but saw the GOP ultimately underperform compared to predictions at the time. The first day of the 2023 congressional term was marked by the inability of the Republican Party to unify itself behind one candidate for Speaker of the House, leading to a once in a century multi-round of Speaker elections. With new members of the House not able to be sworn in until a Speaker is elected, 2023 had a difficult start.

According to a survey conducted between July 9 and July 11, 2022, ** percent of Americans thought that Joe Biden was highly responsible for the current trend in the inflation rate. This is compared to ** percent of Americans who said President Biden did not have a lot of responsibility for the current inflation rate.

Inflation in the U.S. Global events in 2022 had a significant impact on the United States. Inflation rose from *** percent in January 2021 to *** percent in June 2022. Significantly higher prices of basic goods led to increased concern over the state of the economy, and the ability to cover increasing monthly costs with the same income. Low interest rates, COVID-19-related supply constraints, corporate profiteering, and strong consumer spending had already put pressure on prices before Russia’s invasion of Ukraine in February 2022. Despite rising wages on paper, the rapid growth of consumer prices resulted in an overall decline in real hourly earnings in the first half of 2022.

How much control does Joe Biden have over inflation? The bulk of economic performance and the inflation rate is determined by factors outside the President’s direct control, but U.S. presidents are often held accountable for it. Some of those factors are market forces, private business, productivity growth, the state of the global economy, and policies of the Federal Reserve. Although high-spending decisions such as the 2021 COVID-19 relief bill may have contributed to rising inflation rates, the bill has been seen by economists as a necessary intervention for preventing a recession at the time, as well as being of significant importance to low-income workers impacted by the pandemic.

The most important tool for curbing inflation and controlling the U.S. economy is the Federal Reserve. The Reserve has the ability to set, raise, and lower interest rates and determine the wider monetary policy for the United States – something out of the president’s control. In June 2022, the Reserve announced it would raise interest rates **** percent for the second time that year – hoisting the rate to a target range of **** to *** percent – in an attempt to slow consumer demand and balance demand with supply. However, it can often take time before the impacts of interventions by the Federal Reserve are seen in the public’s day-to-day lives. Most economists expect this wave of inflation to pass in a year to 18 months.

Inflation Rate in the United States increased to 3 percent in September from 2.90 percent in August of 2025. This dataset provides - United States Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In September 2025, prices had increased by three percent compared to September 2024, according to the 12-month percentage change in the consumer price index — the monthly inflation rate for goods and services in the United States. The data represents U.S. city averages. In economics, the inflation rate is a measure of the change in price level over time. The rate of decrease in the purchasing power of money is approximately equal. A projection of the annual U.S. inflation rate can be accessed here and the actual annual inflation rate since 1990 can be accessed here. InflationOne of the most important economic indicators is the development of the Consumer Price Index in a country. The change in this price level of goods and services is defined as the rate of inflation. The inflationary situation in the United States had been relatively severe in 2022 due to global events relating to COVID-19, supply chain restraints, and the Russian invasion of Ukraine. More information on U.S. inflation may be found on our dedicated topic page. The annual inflation rate in the United States has increased from 3.2 percent in 2011 to 8.3 percent in 2022. This means that the purchasing power of the U.S. dollar has weakened in recent years. The purchasing power is the extent to which a person has available funds to make purchases. According to the data published by the International Monetary Fund, the U.S. Consumer Price Index (CPI) was about 258.84 in 2020 and is forecasted to grow up to 325.6 by 2027, compared to the base period from 1982 to 1984. The monthly percentage change in the Consumer Price Index (CPI) for urban consumers in the United States was 0.1 percent in March 2023 compared to the previous month. In 2022, countries all around the world are experienced high levels of inflation. Although Brazil already had an inflation rate of 8.3 percent in 2021, compared to the previous year, while the inflation rate in China stood at 0.85 percent.

Graph and download economic data for Inflation, consumer prices for the United States (FPCPITOTLZGUSA) from 1960 to 2024 about consumer, CPI, inflation, price index, indexes, price, and USA.

Trump_Tariff_Data

This dataset compiles key data points related to the impact and policy measures surrounding U.S. tariffs proposed or implemented by Donald Trump, particularly during the 2024 campaign and policy forecast period. It includes economic and trade metrics that provide context on U.S. trade balances, tariffs, and their international implications.

📁 Files & Structure

The dataset is divided into two main data tables:

📊 Data 1: Country-Level Trade & Tariff Overview

📈 Data 2: Tariff Policy Events & Economic Impact

💡 Use Cases

• Analyze the economic and geopolitical impact of tariff policies
• Forecast inflation or GDP shifts due to trade measures
• Build visual dashboards to compare U.S. trade relations by country
• Study election-cycle economic strategies and their global implications

Let us know if you create something cool using this dataset!

Before handing over to President Trump, President Biden's administration in the United States obligated the spending of ** percent of the clean energy funds allocated by the Inflation Reduction Act (IRA). The Environmental Protection Agency (EPA) awarded ** billion U.S. dollars in binding contracts signed as of January 2025.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Food at Home in U.S. City Average (CUSR0000SAF11) from Jan 1952 to Sep 2025 about urban, food, consumer, CPI, housing, inflation, price index, indexes, price, and USA.

Graph and download economic data for Consumer Price Index for All Urban Consumers: Food in U.S. City Average (CPIUFDSL) from Jan 1947 to Sep 2025 about urban, food, consumer, CPI, inflation, price index, indexes, price, and USA.

In August 2024, the presidential campaign of former U.S. President and Republican nominee Donald Trump devoted ** percent of its TV ad spend to ads that mentioned immigration and/or crime. By the following month, ads mentioning these themes accounted for less than *** percent of spending. Instead, inflation was the primary focus, receiving ** percent of ad spend.

The Federal Reserve's balance sheet has undergone significant changes since 2007, reflecting its response to major economic crises. From a modest *** trillion U.S. dollars at the end of 2007, it ballooned to approximately **** trillion U.S. dollars by October 29, 2025. This dramatic expansion, particularly during the 2008 financial crisis and the COVID-19 pandemic—both of which resulted in negative annual GDP growth in the U.S.—showcases the Fed's crucial role in stabilizing the economy through expansionary monetary policies. Impact on inflation and interest rates The Fed's expansionary measures, while aimed at stimulating economic growth, have had notable effects on inflation and interest rates. Following the quantitative easing in 2020, inflation in the United States reached ***** percent in 2022, the highest since 1991. However, by August 2025, inflation had declined to *** percent. Concurrently, the Federal Reserve implemented a series of interest rate hikes, with the rate peaking at **** percent in August 2023, before the first rate cut since September 2021 occurred in September 2024. Financial implications for the Federal Reserve The expansion of the Fed's balance sheet and subsequent interest rate hikes have had significant financial implications. In 2024, the Fed reported a negative net income of ***** billion U.S. dollars, a stark contrast to the ***** billion U.S. dollars profit in 2022. This unprecedented shift was primarily due to rapidly rising interest rates, which caused the Fed's interest expenses to soar to over *** billion U.S. dollars in 2023. Despite this, the Fed's net interest income on securities acquired through open market operations reached a record high of ****** billion U.S. dollars in the same year.

In March 2025, inflation amounted to 2.4 percent, while wages grew by 4.3 percent. The inflation rate has not exceeded the rate of wage growth since January 2023. Inflation in 2022 The high rates of inflation in 2022 meant that the real terms value of American wages took a hit. Many Americans report feelings of concern over the economy and a worsening of their financial situation. The inflation situation in the United States is one that was experienced globally in 2022, mainly due to COVID-19 related supply chain constraints and disruption due to the Russian invasion of Ukraine. The monthly inflation rate for the U.S. reached a 40-year high in June 2022 at 9.1 percent, and annual inflation for 2022 reached eight percent. Without appropriate wage increases, Americans will continue to see a decline in their purchasing power. Wages in the U.S. Despite the level of wage growth reaching 6.7 percent in the summer of 2022, it has not been enough to curb the impact of even higher inflation rates. The federally mandated minimum wage in the United States has not increased since 2009, meaning that individuals working minimum wage jobs have taken a real terms pay cut for the last twelve years. There are discrepancies between states - the minimum wage in California can be as high as 15.50 U.S. dollars per hour, while a business in Oklahoma may be as low as two U.S. dollars per hour. However, even the higher wage rates in states like California and Washington may be lacking - one analysis found that if minimum wage had kept up with productivity, the minimum hourly wage in the U.S. should have been 22.88 dollars per hour in 2021. Additionally, the impact of decreased purchasing power due to inflation will impact different parts of society in different ways with stark contrast in average wages due to both gender and race.

The sporting goods manufacturing industry has benefitted from rising health consciousness over the past decade, which spurred an uptick in sports participation, driving demand. However, inflationary pressures plagued the industry in the aftermath of the COVID-19 outbreak, resulting in people cutting discretionary spending. Revenue is expected to grow at a compound annual rate of 2.6% over the five years through 2025 to €10.8 billion, including an estimated jump of 1.8% in 2025. Profit is also expected to edge upwards to 12.2% in 2025 as higher interest rates cool inflation and ease input cost pressures. Following the COVID-19 outbreak, pent-up demand and supply chain disruptions incited inflationary pressures, ratcheting up living costs. This resulted in many people’s real household disposable income’s plummeting, forcing them to cut discretionary spending on goods like sporting equipment. Despite central banks across Europe raising interest rates to curb rising prices, inflation persisted in the two years through 2023, hurting demand. However, rising sport participation and health consciousness have supported revenue in recent years, driven by effective government initiatives. This includes the Erasmus+ Sport programme, which supports grassroots sports projects across Europe. According to a 2022 survey from the European Commission, Finland tops the list of countries most likely to exercise at least once a week, at 71% of respondents. Import competition has impacted the industry with consumers opting for cheaper alternatives from low-cost production countries amid the cost-of-living crisis. This forced manufacturers to focus their efforts on premium, performance-focused gear, maintaining revenue growth. Revenue is forecast to swell at a compound annual rate of 5.8% over the five years through 2030 to €14.3 billion. Sporting goods manufacturing will welcome declining costs as inflationary pressures subside in the short term. However, uncertainty surrounding Trump’s tariffs policies will hamper GDP growth due to businesses delaying investment projects which would have potentially aided demand for sports goods manufacturers. This will force manufacturers to diversify into faster-growing or tariff-free markets like Asia. Sport participation will continue to rise, supported by robust funding towards promoting exercise as governments seek to slow down rising obesity across Europe. Yet, countries like France facing budget pressures have slashed funding aimed at promoting sports, hindering demand for sports goods manufacturers.

Iran’s gross domestic product (GDP) inclined by 3.33 percent in 2020 after adjusting for inflation. This figure fell from 13.4 percent growth four years ago, which had been a reaction to sanctions lifting after the Joint Comprehensive Plan of Action (JPCOA) regarding Iran’s nuclear program. United States president Donald Trump ended that country’s participation in the deal, imposing new sanctions.

Political influence on the economy

Political tensions have hampered the economy of Iran, keeping growth low in spite of the country’s considerable oil reserves. The effect of these sanctions becomes obvious when looking at Iran’s oil exports to Europe over the past decade. Some analysts have blamed the new sanctions for the increase in Iran’s inflation rate, as well as the currency depreciation that has accompanied it.

Iran’s options

Although Iran’s main export partners are largely in Asia, many of the transactions are carried out using U.S. dollars. Even though other means of payment are possible, some countries worry about political ramifications of continuing trade relations with Iran. Iran’s greatest strength at the moment may be its low national debt, meaning that it can borrow a substantial amount of money if it can find a willing lender. However, given the instability of the political situation worldwide and regionally, it is difficult to assume that such a borrower exists at the moment.

According to a survey conducted in December 2024, approximately 34 percent of Americans wanted Trump to prioritize inflation throughout his first 100 days in office. Additionally, 30 percent wanted to see Trump focus on immigration in his first days in office.

Europe's clothing manufacturing industry is largely driven by its reputation for upscale brands and high-end fashion. Countries like Italy and France have a renowned reputation for manufacturing high-quality apparel, which is in demand globally. As a result, industry revenue largely follows trends in disposable income and consumer spending. Clothing manufacturers have faced challenges brought on by the COVID-19 pandemic, severe inflation and foreign competition. Despite these challenges, the digital revolution has inspired new avenues for growth with the rise of e-commerce, which has become an increasingly central consumer shopping practice. Revenue is expected to hike at a compound annual rate of 0.5% to just over €100 billion over the five years through 2025, including a 3.2% drop in 2025. In 2020, like numerous sectors, the clothing industry took a heavy hit from the COVID-19 outbreak. Temporary restrictions curbed manufacturing activities and closed down physical retail markets, reducing consumer demand for clothes. The industry noticed some recovery as these restrictions eased, and consumers, who'd accumulated savings during lockdown periods, indulged in retail therapy – spending on clothing to bring personal joy. However, soaring inflation in 2022 dampened enthusiasm again. Raw material and energy costs soared, reducing manufacturers' profitability. Inflation has been subsiding since late 2023, though geopolitical tensions, including the ongoing Red Sea crisis and trade wars started by US President Donald Trump in early 2025, are renewing concerns of supply chain disruptions and heightened production costs. Looking forward, Europe’s clothing manufacturers will have to take the rough with the smooth. The growth of online shopping is not likely to slow down. Internationally, Europe maintains a strong reputation for quality, ensuring solid demand for its products. Revenue is forecast to grow at a compound annual rate of 0.6% to €102.8 billion over the five years through 2030. The challenge of sustainability is also stimulating innovation. The industry will continue to develop green solutions to production and use more eco-friendly materials. Technological advances in AI, 3D printing and automation are another cause for optimism, as these help to increase production efficiency. Personalisation of products is another trend that will drive customer satisfaction and build brand loyalty, supporting demand.

As of the first quarter of 2025, the GDP of the U.S. fell by 0.5 percent from the fourth quarter of 2024. GDP, or gross domestic product, is effectively a count of the total goods and services produced in a country over a certain period of time. It is calculated by first adding together a country’s total consumer spending, government spending, investments and exports; and then deducting the country’s imports. The values in this statistic are the change in ‘constant price’ or ‘real’ GDP, which means this basic calculation is also adjusted to factor in the regular price changes measured by the U.S. inflation rate. Because of this adjustment, U.S. real annual GDP will differ from the U.S. 'nominal' annual GDP for all years except the baseline from which inflation is calculated. What is annualized GDP? The important thing to note about the growth rates in this statistic is that the values are annualized, meaning the U.S. economy has not actually contracted or grown by the percentage shown. For example, the fall of 29.9 percent in the second quarter of 2020 did not mean GDP is suddenly one third less than a year before. In fact, it means that if the decline seen during that quarter continued at the same rate for a full year, then GDP would decline by this amount. Annualized values can therefore exaggerate the effect of short-term economic shocks, as they only look at economic output during a limited period. This effect can be seen by comparing annualized quarterly growth rates with the annual GDP growth rates for each calendar year.

Money Supply M2 in the United States increased to 22298.10 USD Billion in October from 22212.50 USD Billion in September of 2025. This dataset provides - United States Money Supply M2 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2025, it was estimated that over 163 million Americans were in some form of employment, while 4.16 percent of the total workforce was unemployed. This was the lowest unemployment rate since the 1950s, although these figures are expected to rise in 2023 and beyond. 1980s-2010s Since the 1980s, the total United States labor force has generally risen as the population has grown, however, the annual average unemployment rate has fluctuated significantly, usually increasing in times of crisis, before falling more slowly during periods of recovery and economic stability. For example, unemployment peaked at 9.7 percent during the early 1980s recession, which was largely caused by the ripple effects of the Iranian Revolution on global oil prices and inflation. Other notable spikes came during the early 1990s; again, largely due to inflation caused by another oil shock, and during the early 2000s recession. The Great Recession then saw the U.S. unemployment rate soar to 9.6 percent, following the collapse of the U.S. housing market and its impact on the banking sector, and it was not until 2016 that unemployment returned to pre-recession levels. 2020s 2019 had marked a decade-long low in unemployment, before the economic impact of the Covid-19 pandemic saw the sharpest year-on-year increase in unemployment since the Great Depression, and the total number of workers fell by almost 10 million people. Despite the continuation of the pandemic in the years that followed, alongside the associated supply-chain issues and onset of the inflation crisis, unemployment reached just 3.67 percent in 2022 - current projections are for this figure to rise in 2023 and the years that follow, although these forecasts are subject to change if recent years are anything to go by.

A survey conducted in July 2025 found that the most important issue for ***percent of Americans was inflation and prices. A further ***percent of respondents were most concerned about jobs and the economy.