by T-Rod » Tue Jan 22, 2008 7:03 am
Keep in mind...
The President has almost no power to influence the economy.
The Congress has more power since they have the power of the purse, but it is still small.
The Fed has ENORMOUS power to influece every aspect of the economy since they control interest rates and money supply.
The common misperception in the press is the President is in charge of the economy. Simply not true.
And when the Fed decides to sit on the sidelines during credit disasters, you get massive selloffs and recessions.