Wall Street stocks have surged in recent weeks after the Federal Reserve raised its benchmark interest rate, a signal that the Federal Deposit Insurance Corp. is unlikely to tighten any further in the near term.
But a recent Wall Street Journal/NBC News poll found that the nation’s top financial institution was the least trusted in the country, with just 34% of Americans saying they trust Wall Street.
In fact, only 19% of respondents said they trust the banks, according to the poll.
The Wall Street crowd was also the most likely to say that their financial institutions are not too big or too risky to handle.
In the past year, the financial sector has experienced record losses, most notably the Great Recession.
And while the economy has recovered, the Fed’s latest monetary easing has been less aggressive than in the past.
The Fed has been pushing the economy toward a potential level of 4% growth over the next few years.
The U.S. is currently in its fourth year of a recession.
And it is not clear whether the economy will recover at this pace in the coming years.
“The American public has been left feeling as though the banking sector is too big to fail, too risky, too big and too big too fail,” the poll said.
The poll, conducted by the public opinion firm Hart Research Associates, also found that people are much more likely to believe that Wall Street CEOs should be paid higher salaries than the average worker.
The survey found that 57% of those polled think CEOs should make as much as the median worker.
Another 43% said that CEOs should receive a bonus of at least 10 times the median workers compensation.
In addition, 44% of people surveyed said that the CEOs should get paid more than the typical worker.
A survey last year from Gallup showed that 47% of adults have no trust in the Federal Government, and 52% of the public is dissatisfied with the job they do at work.
The Federal Reserve’s action to hike its benchmark rate is likely to help the stock market as well as the economy.
The index of stocks is expected to rise by about 7% this year.
And Wall Street stock indexes have surged more than 80% this decade.
While the stock bubble is far from over, the Federal Open Market Committee has already signaled that it will keep rates near zero for the foreseeable future.
The central bank’s policy makers have said that they expect to keep rates low for a long time, and that it’s important to make sure that inflation is at or below 2%.
That would be a significant departure from the current stance of Fed policymakers who believe the Fed can manage the inflationary effects of monetary easing.
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