Ben Bernanke’s approval rating reached its lowest level in two years

Fed Chairman Ben Bernanke’s approval rating reached its lowest level in two years, according to the latest Bloomberg National Poll.

In the most recent poll, conducted June 17-20, 26% of respondents viewed Bernanke unfavorably, 30% favorably, and 44% were unsure. This compares quite poorly to September 2009, when the Fed Chairman received a 41% approval rating and only 22% disapproved.

Other worrisome results from the poll included:

- 66% said the U.S. is on the “wrong track”

- 44% said they are worse off now than at the beginning of 2009

- 55% expect their children to have a lower standard of living than their parents do today

The poll was conducted by Des Moines, Iowa-based Selzer & Co., and is comprised of interviews with 1,000 U.S. adults. It has a margin of error of +/- 3.1 percentage points.

While the poll is closely followed by economists and investors, if one wants a more real-time estimate of Bernanke’s approval rating, he/she has to look no further than the price of gold.

As Marc Faber stated this week, “Not to own any gold is to trust central bankers, and that you don’t want to do in your life.”