released Tuesday. Just 35% of those polled have a “great deal” or “fair amount” of confidence in President Joe Biden to do or recommend the right thing for the economy, the survey finds. Gallup said that nearly matches the low confidence rating for presidents — 34% for former President George W. Bush in 2008 during the Great Recession. Even with the unemployment rate tumbling to historic lows, nearly half of Americans say they have almost no confidence in Biden on the economy.
“There’s a feeling that Washington cannot grasp the inflation anxiety.” The Powell-led Fed has faced criticism from both political parties, first for failing to initially address high inflation and now for reacting so aggressively that it risks tipping the economy into recession. Last week, the Fed raised benchmark interest rates for the 10th consecutive meeting, bumping up benchmark rates to the highest level since late 2007.