Former Clinton pollster Mark Penn said Thursday that voters aren’t watching the stock market, and instead they are watching their wallets.
During an appearance on “Bill O’Reilly: No Spin News,” Penn pushed back against the idea that stock market swings sway public opinion, arguing that voters care far more about what hits their bank accounts directly. Penn said inflation remains the top issue for Americans and that voters have yet to feel real relief.
“I have actually found that the voters are less sensitive to the stock market. They’re mostly sensitive to the prices that they pay and to the unemployment rate. And those things very much directly affect politics. Look, why isn’t Trump in the 50s or 60s? Because the most important issue right now is inflation, and people haven’t experienced inflation coming down or prices down,” Penn told Bill O’Reilly.
While Penn acknowledged that prices for gas and eggs have eased slightly, he said voters still feel the sting of broader price hikes. (RELATED: ‘Never Seen Anything Like This’: Crucial Voter Groups Fleeing Democrats, Says Stunned Fmr Clinton Pollster)
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“Even though gas and eggs are down somewhat, the president is off on a lot of other issues, particularly immigration, but also on tariffs, on a number of these others,” Penn added.
Penn said voters want to see proof — not promises — that economic conditions are improving.
“The voters, I think, are really looking for a demonstration that the economy is going to be strong, that his economic policies are going to work, and that their wages are going to grow,” Penn said.
Inflation slowed in April to its lowest level since February 2021, with the consumer price index (CPI) rising just 0.2% for the month. The Bureau of Labor Statistics also reported a 2.3% year-over-year increase and a matching 0.2% gain in core CPI.
U.S. inflation cooled in April while the economy outperformed forecasts by adding 177,000 nonfarm payroll jobs, according to Bureau of Labor Statistics data released May 2.
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