Sep 29, 2020 - Economy & Business

The Fed remains untrusted

Data: Axios/Ipsos survey; Note: Margin of error for the total sample is ±3.2%; Chart: Andrew Witherspoon/Axios
Data: Axios/Ipsos survey; Note: Margin of error for the total sample is ±3.2%; Chart: Andrew Witherspoon/Axios

The latest Axios-Ipsos poll shows that Americans' trust in the Fed has been unmoved since last month, with far more Americans saying they have not very much or no trust in the central bank, despite the Fed's latest shift in policy to average inflation targeting.

The impact: The new stance will keep interest rates lower for longer and is expected to provide a boost to job seekers and lower-income Americans who historically have not shared in the nation's prosperity.

Yes, but: A recent survey from the Cleveland Fed found few Americans are aware of the policy change and those who did know didn't seem to care.

Why it matters: Mistrust of the Fed could put the central bank in the sights of Congress after November's election, as both Democrats and Republicans historically have gone after the institution following times of economic and political uncertainty.

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