• 3 days Ireland Balks At Biden’s Global Tax Plan
  • 6 days Robinhood To Trade On Nasdaq Targeting $32B Valuation
  • 10 days Facial Recognition Is Watching You
  • 11 days Biden’s $3.5T ‘Human Infrastructure’ Workaround
  • 11 days The Fed’s $3 Trillion Headache
  • 14 days Why Bitcoin Could Struggle To Recover After Epic Crash
  • 14 days Wells Fargo Back In The Spotlight Over Personal Loan Cancellations
  • 15 days Delta Variant Real Threat To Economic Recovery
  • 18 days JEDI Drama Continues With Microsoft Contract Cut
  • 20 days DiDi Shares Take a Beating From Chinese Regulators
  • 21 days Thousands Of Companies Hit In Latest Ransomware Attack
  • 21 days Jobs Report Has Big Numbers, But Still Big Problems
  • 22 days Robinhood’s ‘Mission’ Questioned in $70M Fine
  • 25 days Didi Just Went Public, And Uber Is Loving It
  • 26 days Islamic Finance On Track To Hit $3.7 Trillion
  • 27 days The Lumber Bubble Is Bursting
  • 31 days A New Entry In The Two Trillion Dollar Club
  • 31 days 3 Upcoming IPOs To Watch As IPO Market Rebounds
  • 33 days Welcome To The Used Car Bonanza
  • 34 days The Year Of The Retail Investor Keeps Getting Bigger
  1. Home
  2. Markets
  3. Other

Confidence in the Fed Sinking Fast from Greenspan to Bernanke to Yellen: How Much Confidence Do You Have?

Once-revered central bank heads failed to foresee the housing bubble and the great financial crisis that followed. As a result, faith in the Fed has plunged.

People had high confidence in Alan Greenspan for much of his tenure, but that confidence tailed off towards the end. Confidence in Ben Bernanke declined further, and confidence in Yellen is at or near record lows.

The following chart shows the shift in confidence under the last three Fed chairs.


Shift in Confidence

How confidence in the Fed leader has shifted

The above chart from the Wall Street Journal article Years of Fed Missteps Fueled Disillusion With the Economy and Washington.

Bernanke had more negative marks than Yellen, but more positive marks as well.

In the early 2000s, confidence in Chairman Alan Greenspan often exceeded 70%. An April Gallup poll found 38% of Americans had a great deal or fair amount of confidence in Ms. Yellen, while 35% had little or none.

How much confidence do you have in Janet Yellen?

-- Mike Shedlock (@MishGEA) August 26, 2016

Note that St. Louis Fed president Bullard is worried about confidence in the Fed: Bullard Warns Yellen on Credibility, Sticks with Forecast "1 Hike in Next 2.5 Years"

 

Back to homepage

Leave a comment

Leave a comment