Americans lack confidence in President Biden, Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen on matters related to the economy.
as he leads the U.S. central bank in its fight to crush runaway inflation with the most aggressive interest-rate hike campaign since the 1980s.
Just 36% of U.S. adults said they have a "great deal" or "fair amount" of confidence in Powell on the economy, matching the lowest level of public confidence for a Fed chair on record. About 28% of respondents said they have almost no confidence in Powell. While the rate increases are intended to cool inflation – which remains abnormally high – they also risk slowing hiring and sending the economy into a recession. Powell has remained optimistic that the economy may avoid a recession and a spike in unemployment, despite the 10 consecutive rate hikes.
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