Americans are more likely to want the Federal Reserve to lower interest rates than to raise them or keep them the same. Federal Reserve Chair Jerome Powell is more trusted than Donald Trump to set interest rates, but Americans are split over the Department of Justice's criminal investigation into Powell.
What you need to know about Americans' views on the Federal Reserve, as of the January 16 - 19, 2026 Economist / YouGov Poll:
- 48% of Americans want the Federal Reserve to lower interest rates, 18% want rates to stay the same, and only 3% want higher rates
- 35% of Democrats, 44% of Independents, and 65% of Republicans want lower interest rates
- 32% of Americans strongly or somewhat approve of the Justice Department's criminal investigation into Powell, and 38% disapprove
- Most Democrats disapprove of the investigation (14% approve and 62% disapprove), and most Republicans approve (57% approve and 14% disapprove)
- Republicans who say they are MAGA supporters are more likely than Republicans who say they're not MAGA supporters to approve of the investigation (68% vs. 42%)
- Americans who want the Federal Reserve to lower interest rates are about twice as likely to approve of the investigation as to disapprove
- Americans who want the Federal Reserve to either raise interest rates or not change them are about four times more likely to disapprove of the investigation as to approve of it
- If they had to choose, more Americans would trust Powell more than Trump to set interest rates than would trust Trump more (44% vs. 18%)
- Democrats overwhelmingly prefer Powell for setting interest rates (76% say Powell and 1% say Trump), while Republicans are more likely to prefer Trump (17% say Powell, 40% Trump)
- Republicans who say they are MAGA supporters prefer Trump over Powell (55% vs. 7%), while Republicans who say they're not MAGA supporters prefer Powell over Trump (37% say Powell, 20% Trump)
- Americans who want lower interest rates are evenly split (27% Powell vs. 30% Trump), while those who want the Federal Reserve to raise or not change interest rates overwhelmingly prefer Powell (73% vs. 8%)
Image: Getty (Chip Somodevilla/Getty Images)
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