Low Economic Approval Points to Midterm Shift

Businesses planning for 2027 should weigh a possible Democratic Congress and record-low voter views of the economy.

Updated on Nov. 3, 2026 in Economic Indicators

Low Economic Approval Points to Midterm Shift

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Do you plan to vote for Democrats in the midterm elections?

Former White House communications director Anthony Scaramucci predicted on CNBC that President Donald Trump will be trounced in the midterm elections, citing voter dissatisfaction with the economy. Prediction markets currently favor Democrats in the November 3 contest.

Why it matters

Scaramucci argued voters are using the midterms to grade the president, and CNBC's All-America Economic Survey shows Trump's economic approval at an all-time low last month. For operators, sustained economic pessimism among voters signals how policy uncertainty may shape spending, hiring and investment decisions heading into a possible shift in Congress.

CNBC's All-America Economic Survey found 65% of respondents disapproved of Trump's handling of the economy and 80% rated it fair or poor. Prediction markets put the chance Democrats win Senate control at about three-in-four.

The players

Anthony Scaramucci

Founder of SkyBridge Capital, an investment firm, and former White House communications director.

CNBC

Business news network whose All-America Economic Survey tracks public views on the economy.

The details

Scaramucci made his prediction on CNBC's "Squawk Box Europe," framing the midterms as a referendum in which voters grade the president. He also projected that a Democratic win would quickly draw congressional attention to the administration and that Republicans would face an internal debate over the party's direction. Scaramucci served only 10 days as White House communications director in 2017 and founded SkyBridge Capital.

2017: Scaramucci serves 10 days as White House communications director.
October 2026: Trump's economic approval hits an all-time low in CNBC's survey.
November 3, 2026: Scaramucci makes his midterm prediction on CNBC and the midterm elections are held.

Market Landscape

Public economic sentiment measured in CNBC's All-America Economic Survey is now a leading indicator of how markets and businesses read the political outlook. Prediction markets favoring Democrats for Senate control show investors pricing in a possible change in congressional oversight of the administration.

Operators should factor the possibility of a Democratic-controlled Congress into planning for policy, regulatory and spending conditions in 2027. Businesses sensitive to consumer sentiment should watch whether economic pessimism persists in future surveys.

The takeaway

Treat the midterm outcome as a planning variable and review your exposure to federal policy shifts before the new Congress convenes. Track the next CNBC All-America Economic Survey to see whether economic sentiment recovers or stays at its recent low.