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Data: Axios/Ipsos survey; Chart: Danielle Alberti/Axios

Trust in the Federal Reserve fell again, despite — or, perhaps, because of — the stock market's continued surge upward, according to data from the latest Axios-Ipsos Coronavirus Index.

By the numbers: Trust in the Fed is sinking across the political spectrum — a strong majority (62%) of Americans say they have little or no trust in the central bank, up from just over half (51%) in May.

  • Even with President Trump's handpicked chairman at the helm, trust in the Fed has declined among Republicans by six percentage points since the last survey in mid-July.
  • Trust among Democrats actually increased to 40% from 37% from July.
  • Independents have been the most critical of the Fed, with trust sinking from 48% in May to 39% in July to 30% in August.

What to watch: Protests against the Fed have sprung up recently as more of the public begins to question the growing divergence between the U.S. economy and U.S. stock prices.

  • Rising public antipathy could be a major problem as the Fed's power "is contingent on securing as well as maintaining broad political and public support," Mark Spindel and Sarah Binder wrote in their 2017 book "The Myth of Independence: How Congress Governs the Federal Reserve."

Zoom in: Distrust of the Fed defies age, race, gender, region, work status and even education level, as a majority of respondents across the board say they have "not very much" or "none at all" trust in the central bank.

  • The percentage of respondents who say they trust the Fed "a great deal" fell to 4%, compared to 21% who say they do not trust the Fed at all.

Methodology: This survey of 1,100 adults has a margin of error of ± 3.3 percentage points at the 95% confidence level.

Go deeper

Dion Rabouin, author of Markets
Dec 8, 2020 - Economy & Business

The "central bank of central banks" warns asset prices are disconnected from reality

Illustration: Aïda Amer/Axios

The Bank for International Settlements issued another warning about the detachment of U.S. equity prices from the real economy in its latest quarterly review.

Why it matters: The so-called central bank of central banks continues to warn that the gravity-defying stock market is also defying reason.

Updated 1 hour ago - Economy & Business

The billionaire balloon

Data: World Inequality Report 2022; Chart: Axios Visuals

The super-rich are getting stupid rich: New data out today shows the share of global wealth held by the richest slice of humanity swelled by almost a full percentage point during the pandemic.

Driving the news: The top 0.01% of individuals now hold about 11% of the world's wealth, compared to just over 10% in 2020, according to the "World Inequality Report 2022," written by Lucas Chancel, Thomas Piketty, Emmanuel Saez and Gabriel Zucman.

Tina Reed, author of Vitals
1 hour ago - Health

Omicron gives a shot to boosters

Expand chart
Data: CDC; Chart: Will Chase/Axios

Vaccination rates have ticked higher since the discovery of the Omicron variant, CDC data shows.

By the numbers: The seven-day average for vaccinations in the U.S. reached about 1.8 million on Monday, up from an average of about 1.3 million a month ago.