Tags: survey | less | confident | fed

Half of Americans Less Confident in the Fed

Friday, 05 Nov 2010 11:17 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink

NEW YORK — About half of Americans say they are less confident in their central bank now than they were five years ago, according to a survey released Friday.

This lack of confidence comes at a critical juncture for the Federal Reserve, which on Wednesday announced a bold but risky program to pump more money into the economy to support the U.S. recovery.

The program's success hinges on the Fed's hard-won credibility that it can keep prices stable and bring down unemployment over the long run.

Just 7 percent of those surveyed said they had more confidence in the Fed in 2010, below the 12 percent in 2009 but the same percentage as in 2008, the Thomson Reuters/University of Michigan survey showed.

The flagging confidence "will affect perception of the Fed's ability to keep prices stable," said Richard Curtin, the survey's director.

People in the middle-third income group reported the least positive views of the Fed, with 58 percent saying they were less confident.

Overall, 49 percent said they were less confident in the Fed now compared with five years ago, the same as in 2009.

The question was not asked at any time in which the Fed enjoyed widespread credibility and was asked only once before, in 1987, following the stock market crash.

"While it is thus hard to judge the true extent of the recent loss in confidence in the Fed, it is hardly reassuring that half of all consumers reported that they were now less confident," Curtin wrote.

 

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Canada Had Revoked Shooter's Passport, Citing High Risk

Thursday, 23 Oct 2014 09:14 AM

The Canadian shooter who gunned down an unarmed guard at the Ottawa War Memorial on Wednesday before firing his way thro . . .

Man Charged after Jumping White House Fence, Sparking Lockdown

Thursday, 23 Oct 2014 08:34 AM

A man arrested after jumping the White House fence on Wednesday night has been charged with three felony counts and four . . .

WaPost: At Least 6 African-American Witnesses Back Officer in Ferguson Shooting

Wednesday, 22 Oct 2014 12:10 PM

Slain Ferguson teen Michael Brown was shot in the hand at close range, an official county autopsy report obtained by the . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved