NEW YORK (CNN/Money) - In an unhappy coincidence with President Bush's economic forum, consumer confidence is at its worst level since April 1996, according to an ABC News/Money magazine poll.

The ABC News/Money magazine Consumer Comfort index, based on gauges of current economic conditions, slipped below the lows it hit early this year to its worst level in more six years.

At the same time, President Bush assured Americans on Tuesday in Waco, Texas, that his administration has a steady hand on the economy after hearing blue-collar workers and blue-chip CEOs alike voice concern about slower growth and market volatility.

Also, the Federal Reserve Board held a key U.S. interest rate steady at a four-decade low of 1.75 percent but warned that economic risks are now tilted toward weakness, a step that may foreshadow rate cuts ahead.

The consumer index, based on Americans' ratings of the economy, their personal finances and the buying climate, stands at -15, down nine points since July and 16 points below its highs for the year in March and April.

In the latest survey, 32 percent of Americans say the U.S. economy is in good shape, down one percentage point from last week. The best level for that indicator was 80 percent, from the Jan. 16, 2000, survey. The worst was 7 percent, seen in late 1991 and early 1992.

The survey also indicated that 57 percent of Americans said their personal finances are in good shape, down two percentage points from last week. The best was 70 percent, set Aug. 30, 1998, and last matched in January 2000. The worst rating was 42 percent on March 14, 1993.

About 38 percent of Americans said it's an excellent or good time to buy things they want and need, unchanged from last week. The best was 57 percent, seen Jan. 16, 2000. The worst was 20 percent in the fall of 1990.

The ABC News/Money magazine survey represents a rolling average based on telephone interviews with about 1,000 adults nationwide each month. This week's results are based on 1,017 interviews in the month ended Aug. 11, 2002, and have an error margin of plus or minus 3 percentage points.