I mentioned in passing yesterday that Donald Trump’s approval rating is actually quite low considering that the economy is doing pretty well. In fact, it’s historically low. Here’s an annotated chart from earlier in the year put together by Nate Cohn:
Trump’s approval rating is well below the lowest ever recorded with unemployment below 5 percent. So what happens if the economy turns down? Even a small hiccup could push his approval rating down by a net 10 points. Trump better hope the Fed does its usual best to keep Republicans in office and that Wall Street keeps its cool in the face of trade wars and general economic incompetence.