10th Year of Chicago Booth/Kellogg School’s Financial Trust Index Shows an Uptick of Public Faith in Markets
The study was conducted for the Financial Trust Index via telephone by SSRS
A decade after the financial crisis, average faith in market institutions is recovering—especially among high-income individuals and Republicans—while trust in government is on a downward trend.
lmost exactly one year after Donald Trump assumed the US presidency, Americans’ trust in the country’s main financial institutions is climbing steadily, with faith in the stock market at its highest level since the survey was launched in December 2008. The most recent Financial Trust Index (FTI) survey, an initiative of the University of Chicago Booth School of Business and Northwestern University’s Kellogg School of Management, shows that average trust in large corporations, now at 2.4 on a 5-point scale (with 5 being trusting completely and 1 not at all), is approaching its 2014 peak of 2.46, and faith in the market system, at 2.71, is also at its highest level since 2008.
Only 31 percent of respondents now say they are angry about the economic situation. This is the lowest level since the beginning of the FTI, compared to its peak at 63 percent in March 2009 following the passage of the American Recovery and Reinvestment Act, a fiscal stimulus package aimed at ending the Great Recession. But faith in the government (at 2.37 on the 5-point scale) is wobbling, currently hovering at its lowest level since the 16-day government shutdown late in 2013.