Groundwork’s Lindsay Owens on Growing Distrust of Fed Chair Powell

May 10, 2023

New Gallup poll finds Americans’ confidence in Chair Powell has dropped to lowest level since 2001

Yesterday, Gallup released a new poll that found record-low confidence in Federal Reserve Chair Jerome Powell. The poll found that only 36% said they had a “great deal” or “fair amount” of confidence in Chair Powell, the lowest level of confidence in a Fed Chair since Gallup began polling in 2001. Groundwork Collaborative’s own polling with Lake Research Partners in March found that 42% of voters nationwide had little to no confidence in Fed Chair Jerome Powell. In the latest Gallup poll, that number jumped to 54%.

Groundwork Collaborative’s Executive Director Lindsay Owens reacted with the following statement:

“It shouldn’t come as a shock that Chair Powell’s actions have eroded public trust in the central bank. Instead of fighting for a strong labor market and securing our banking system, Chair Powell has enacted 10 consecutive rate hikes and put us at risk of a recession. Americans want a Fed that is on their side, not the side of big banks.”