People's trust in President Biden’s ability to make economic decisions is one of the lowest in the past twenty years, according to a study by Gallup.
Gallup has tracked confidence in presidents to do the right thing on the economy since 2001, when former President George W. Bush took office. Confidence in Biden’s economic management dropped from 57 percent to below 40 percent in 2022 and it has remained there since. His low was 35 percent in 2023.
Bush was the only president to garner lower confidence in economic management when he dropped to 34 percent in 2008. Meanwhile, former President Obama’s low was 42 percent in 2014, and former President Trump’s low was also 42 percent in 2018.
In a new Gallup survey, only 38 percent of U.S. adults said they have “a great deal” or “a fair amount” of confidence in Biden to do or recommend the right thing for the economy. Democrats overall received 38 percent confidence, and Republicans received 36 percent confidence.
Meanwhile, 46 percent said they have “a great deal” or “a fair amount” of confidence in Trump to do or recommend the right thing for the economy. And 39 percent have confidence Federal Reserve Chair Jerome Powell to do the right thing.
The latest poll was conducted with 1,001 adults from April 1-22, before Powell announced interest rates would be kept at a 23-year high. It has a margin of error of plus or minus 4 percentage points.
