That's not actually the case. If you look at the money supply for the US it has a pretty constant growth rate over the last 8 decades - while the Federal Reserve claims to be messing around with the interest rate to control the economy, the actual evidence that this is the case is quite lacking. (Illusion of Control problem)
So yes, it's not about the President, but the nature of control over the financial system is not through the interest rate channel either.
"If you look at the money supply for the US it has a pretty constant growth rate over the last 8 decades"
I'm not sure how you can come to that conclusion given it is common knowledge and fairly obvious that the Fed has been inflating the economy at absurd amounts to get us out of the 2008 crash.
Re:Say Hello to Full Employment
by jacksproit on Friday July 06, 2018 @04:05PM
(#17474688)
Are the busts worse by % or just by $ amount?
To use a different metaphor, the Fed and the Presidents are playing a game of musical chairs with their successors and no one wants to be the one standing when the music stops.