Confidence in the Fed chair spikes to the highest since 2005 amid Jerome Powell's unprecedented actions to fight coronavirus
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WASHINGTON, DC - SEPTEMBER 26: Federal Reserve Board Chairman Jerome Powell arrives for a news conference on September 26, 2018 in Washington, DC. The Fed raised short-term interest rates by a quarter percentage point as expected today, with market watchers expecting one more increase this year and three more in 2019.
The rating is also the highest Powell has received in his two years as Fed chair. It shows confidence in him as grown amid the Fed's actions to combat economic fallout from the coronavirus pandemic. People are feeling most confident in the actions of state leaders and the Federal Reserve chairman Jerome Powell amid the coronavirus pandemic that has wreaked havoc on the US economy.
As many as 58% of Americans said that they have a great deal or a fair amount of confidence that Powell will do or recommend the right thing for the economy, according to an April 1-14 Gallup Poll. It's the highest reading a Fed chair has had since Alan Greenspan's 56% confidence rating in 2005. The poll also showed that people feel that local government leaders are doing the best local government — 68% of respondents said they have a great deal or a fair amount of confidence that the governor in their state will do or recommend the right thing for the economy. Gallup's poll comes amid economic turmoil stemming from the coronavirus pandemic, which has led to most of the US being under lockdown to curb the spread of COVID-19, the illness caused by the virus.
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