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Data: Axios/Ipsos poll; Note: 1,063 U.S. adults were surveyed in July with a ±3.1% margin of error; Chart: Andrew Witherspoon/Axios

The number of Americans who say they have a great deal or fair amount of trust in the Federal Reserve fell to 41% in the latest Axios-Ipsos Coronavirus Index.

Why it matters: The results show that as the stock market rose to new highs and credit markets have shown significantly improved functioning over the past two months, Americans' trust in the Fed declined.

By the numbers: Mistrust of the Fed continues to continues to defy age, race and even level of education, with a majority of respondents across the board saying they either had very little or no trust at all in the central bank.

  • 6% of respondents say they trust the Fed a great deal, compared to 19% who say they do not trust the Fed at all.

One level deeper: However, the latest decline does largely reflect political leanings.

  • Trust has been little moved among Republicans, 54% of whom say they trust the Fed compared to 55% in May.
  • But just 37% of Democrats say they trust the Fed, down from May's 44%.
  • And 39% of independents trust the Fed, down 9 percentage points from May.

The intrigue: Surprisingly, the Fed's ratings don't improve much with investors.

  • Of those who own financial assets like stocks, 42% say they have some trust in the Fed versus 38% of those who don't own financial assets.

The big picture: "We are seeing a broad-based decline in confidence in all measures of government institutions stemming from the failure to contain COVID-19," Chris Jackson, senior vice president for Ipsos Public Affairs, tells Axios.

  • 32% of respondents in the latest poll said they had a great deal or fair amount of trust in the federal government.
  • That's down from 53% of respondents in the March 20–23 survey.
  • The Fed's falling ratings "are really just collateral damage," Jackson says.

Go deeper

Oct 20, 2020 - Health

Axios-Ipsos poll: Trump's sickness makes him harder to trust

Data: Axios/Ipsos poll; Note: ±3.3% margin of error; Chart: Axios Visuals

Large shares of women, seniors and independents now say they're less likely to trust President Trump for accurate information about COVID-19 since he caught it himself, according to the latest installment of the Axios/Ipsos Coronavirus Index.

The big picture: Week 28 of our national survey has most Americans rejecting ideas that Trump has floated around hydroxychloriquine as a virus treatment, how herd immunity works or any imminent availability of a vaccine.

Axios-Ipsos poll: Voters of color worry about militias, arrests

Data: Axios/Ipsos poll; Note: ±2.6% margin of error; Chart: Naema Ahmed/Axios

Fears that armed militias, police or COVID-19 await them at the polls are disproportionately shaping how Americans of color think about in-person voting, according to an Ipsos poll for Axios.

Why it matters: Participation by voters of color could decide whether President Trump or Joe Biden wins, and whether Democrats take control of both chambers of Congress.

Coronavirus has inflamed global inequality

Illustration: Aïda Amer/Axios

History will likely remember the pandemic as the "first time since records began that inequality rose in virtually every country on earth at the same time." That's the verdict from Oxfam's inequality report covering the year 2020 — a terrible year that hit the poorest, hardest across the planet.

Why it matters: The world's poorest were already in a race against time, facing down an existential risk in the form of global climate change. The coronavirus pandemic could set global poverty reduction back as much as a full decade, according to the World Bank.