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Government yes. But this has nothing to do with politics. The more I study the economy the less effect I see the president or congress having much direct effe
by nightski 3y ago
Government yes. But this has nothing to do with politics. The more I study the economy the less effect I see the president or congress having much direct effect on the economy (good or bad). The Fed sure, but not so much elected officials.
- JumpCrisscross 3y ago> more I study the economy the less effect I see the president or congress having much direct effect on the economy Biden kept Powell and resisted calls to politicize the Fed. Contrast that with e.g. Latin America. It's absolutely credible to comment favorably on the American political system in this one respect.
- ericmay 3y agoI'm not sure I'd disagree, but I think that's actually an interesting feature of government when it's not going overboard with bad policies things tend to be "sane" and the system just functions. Once we get idealogues or charlatans or just outright corrupt people in positions of power, you'll find out very quickly that politics has a lot to do with the economy as it comes crashing down all around us. That being said, the president and Congress do have some levers to pull to effect the economy. That can be anything from bad transportation policy (like the overbearing federal highway system) which lowers entrepreneurship and increases death rates and obesity (less fit workers, fewer businesses, etc.) to seemingly good policy like the Inflation Reduction Act which is building and repairing infrastructure, etc. While most assumed nothing would come of it, the hostage taking of the debt ceiling specifically whenever a Democrat is president is another way in which Congress can have a direct effect on the economy.
- pixl97 3y agoFeds have a nearly immediate effect, elected officials have a much slower effect and only from working together.