ROCHESTER, N.Y. — As President Donald Trump prepares to address the nation Tuesday, affordability remains a key concern for many Americans. The economy has been a focal point in every modern presidential campaign.
The latest consumer confidence report showed mixed feelings. People are optimistic about the job market, but their confidence in personal finances has declined since February. This sentiment aligns with what people in Rochester told News10NBC.
During Tuesday’s State of the Union, President Trump is expected to repeat much of what he told the nation during his White House address.
“After 11 months our border is secure. Inflation has stopped. Wages are up. Prices are down,” Trump said at the previous address.
However, Mark Hamrick, a senior economic analyst at Bankrate, said that is not completely true.
“One of the phrases the White House has used is that prices are way down. Consumers know otherwise,” said Hamrick.
While shopping, Dewberry asked people about their views on affordability.
Valerie Pontarelli, a shopper, said, “I think it’s expensive. Groceries are just getting out of hand.”
Another shopper expressed concern about the economy’s direction, saying it is going “absolutely” in the wrong direction.
Why? Shoppers like her point to the price of beef, up more than 16% year over year, and fish, up more than 5%.
“There are only so many ways that the president can affect the economy and one of the things that they should strive for is to do no harm. The primary tool that the president has leaned on has been tariffs.”
Despite this, the president may highlight the falling prices of eggs and gas, as well as the stock market’s strong performance.
Deanna Dewberry: “A lot of folks say the stock market is doing well. Does that affect you personally?
Jacqueline Wilson, shopper: “No, it doesn’t.”
That’s the case for most who own stocks only in retirement accounts.
As consumers prepare to watch the State of the Union address, Hamrick advised with all those who represent us politically, not just the president, we should always ask, how much of what is being said is true? And what are those who represent me doing for me?”
While many people Dewberry spoke with expressed pessimism about prices, they remain optimistic about the country’s future.
Consumer Alert: How do consumers feel about the state of the economy? WHEC.com.
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