Never a trivial topic, epseically in an election year, the Chicago Booth/Kellogg School Financial Trust Index released today gives a glimpse into Americans' trust in our financial system and feelings about the economy.
Only 23% of those surveyed indicated that they have trust in the U.S. financial system. Trust in banks has fallen from 39% in June 2011 to 30% in the current Index, a joint enterprise conducted on a quarterly basis by the Northweswtern and University of Chicago schools of business. The present report is the 13th quarterly issue and is based on reasearch conducted in December 2011.
A figure certain to get most anyone's attention: 62% of the repspondents in the survey stated they were "angry" or "very angry" about the current economy.
Prof. Paola Sapienza of Northwestern University's Kellogg School of Management, and a report co-author, says "This is the highest level of anger we've measured since March 2009. In an election year, this certainly indicates the importance of the economy to the political agenda."
The Index does convey some positive expectations on the housing front. Compared to 33% in Spetmber 2011, 23% surveyed believe house prices will drop in the next 12 months. 77% expect house prices to remain level or increase, up from 67% in September.
For more information on the report, click here to visit the Financial Trust Index website.
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