Since his appointment, the balance sheet of Ben Bernanke’s Fed has exploded, stock prices have resurged to newerer highs, and home prices are breaking (bad) records once again. However, the following chart of sentiment towards the money-printer-in-chief by income bracket sums it all up… (despite Bernanke’s “belief” that “Fed policy is a Main Street policy”) Greenspan will be happy though, as Bernanke’s disapproval rating is almost double that of his when he left office in 2006 (and approval rating considerably lower).
The American public is divided on how Bernanke has handled his job, with 40% approving and 35% disapproving.
One in four have no opinion. By contrast, Bernanke’s predecessor, the better-known Alan Greenspan, left office with a strong majority approving of his performance.
As Gallup adds,
Bernanke’s consequential legacy may take decades to fully assess, but he has already won many plaudits from an array of economists, policymakers, and financial analysts.
The American public is divided on Bernanke’s job performance. Many of the commentaries applauding Bernanke’s actions focus on what might have happened had the Fed chairman not intervened, but most Americans are more likely to judge Bernanke, like other public officials, on the results of his policy decisions, rather than what might have been. While even a man as powerful as Bernanke cannot control all of the interrelated forces that drive the economy, Americans’ views on his job as top central banker have been shaped by the speed and breadth of the recovery. And for many, the economic recovery remains underwhelming.
Ignore that though – as he explained here…
The Fed is here for Main Street…