He didn't have power over the Fed, but he did nominate a wise man to lead it. He would've come out looking tarnished under any circumstance, regardless of what

He didn't have power over the Fed, but he did nominate a wise man to lead it. He would've come out looking tarnished under any circumstance, regardless of what the Fed did. Either inflation or high interest rates eventually result in bad times, because that is the nature of the business cycle.