Bitcoin News and Finance Credibility Concerns — Gallop Poll Shows Fed Chair’s Confidence Ratings Slid by Double Digits Skip to main content

Credibility Concerns — Gallop Poll Shows Fed Chair’s Confidence Ratings Slid by Double Digits

Credibility Concerns — Gallop Poll Shows Fed Chair’s Confidence Ratings Slid by Double Digits

According to a Gallop poll published on May 2, the public’s confidence in America’s current economic leaders has been deteriorating. Confidence in U.S. president Joe Biden managing the U.S. economy has dropped from 57% to 40%, and faith in Federal Reserve chair Jerome Powell has faltered from 55% to 43%. The April 2022 Gallop poll, published amid the highest inflationary pressure the country has seen in decades, indicates trust in economic leaders is at its lowest point since 2008.

Americans Are Not Confident in Current Leaders Managing the Economy

After the largest monetary expansion the country has seen in its entire lifetime, faith in America’s economic leaders is “flagging,” according to a recently published Gallop poll.

Credibility Concerns — Gallop Poll Shows Fed Chair’s Confidence Ratings Slid by Double Digits

The poll was conducted via telephone interviews on April 1-19, 2022, with 1,018 adult U.S. residents. The Gallop poll particpants resided in all 50 states and the District of Columbia. Furthermore, the survey was done before U.S. gross domestic product report, and the recent Federal Reserve rate hike. The Gallop survey authors state:

Public confidence in key U.S. leaders’ management of the national economy is shaken amid the highest inflation rate in more than 40 years and Americans’ increasingly bleak assessments of the national economy and their own financial situations.

Average Americans are not the only ones who believe the Fed and current economic leaders have lost credibility. A number of analysts, financial authors and economists like Peter Schiff, Robert Kiyosaki, Gerald Celente and many others don’t believe the Fed can save the day. As far as the Gallop poll is concerned, “confidence ratings for all leaders are below historical averages for each,” the report’s authors explain.

Powell Says He’s Not Concerned About Credibility, Gallop Poll Shows Faith in Democratic Leaders Is Lower Than the Confidence in Republican Leaders

On May 4, when Fed chair Jerome Powell was asked directly if he was “concerned about Fed credibility with the American people,” Powell said that he was not.

“No. I don’t,” Powell told the Bloomberg Television reporter Mike McKee. “A good example of why would be that, so in the fourth quarter of last year, as we started talking about tapering sooner and then raising rates this year. You saw financial markets reacting. You know, very appropriately.” The Federal Reserve chief added:

Not to bless any particular day’s measure. But the way financial markets, you know, the forward rate curve has tightened in response to our guidance and our actions really amplifies our policy. I mean, its monetary policy is working through expectations now, to a very large extent.

Credibility Concerns — Gallop Poll Shows Fed Chair’s Confidence Ratings Slid by Double Digits

Moreover, Powell also told the Bloomberg reporter that the U.S. central bank decided to choose the June 1 date to “begin letting securities roll off” on a mere whim. “It was just pick a date, you know, and that happens to be that happened to be the date that we picked,” Powell stressed to McKee. “[There] was nothing magic about it. You know, it’s not going to have any macroeconomic significance over time,” he added.

The Gallop poll shows that since U.S. inflation has risen a great deal, “Americans’ confidence ratings for Biden’s and Powell’s economic management declined by double digits.” The poll says less than half of American adults said they have “‘a great deal’ or ‘a fair amount’ of confidence” in Biden’s and Powell’s economic management. Powell scored a 43% and Joe Biden scored an even lower 40%. Moreover, Gallop’s stats indicate faith in Democratic leaders (38%) is currently lower than the trust in Republican leaders (40%) when it comes to managing the U.S. economy.

What do you think about the Gallop poll that shows trust in America’s current economic leaders is lagging? Let us know what you think about this subject in the comments section below.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory