America's Federal Reserve is not very popular

[igorignatyev]

AT LEAST Ben Bernanke is well liked by Barack Obama. America's president nominated Mr Bernanke for a second spell as the chairman of the Federal Reserve this week, well before his current term expires. But the trust placed in him by Mr Obama belies the public attitude to America's central bank. In a recent poll only 30% of respondents said that the Fed is doing a good or excellent job, a worse rating than even the Internal Revenue Service, the country's tax collectors. And Mr Bernanke should not expect things to get much better. The Fed may have to intervene in markets more to prevent new bubbles. Any tightening of monetary policy is sure to prove unpopular.



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