Usually, months to years. The economy is a very big ship and slow to steer. This particular crisis is quite abrupt, caused by a sharp jump in the price of oil.

Usually, months to years. The economy is a very big ship and slow to steer. This particular crisis is quite abrupt, caused by a sharp jump in the price of oil. Most presidents don't really deserve either the credit or fault that they receive on the economy, but in this case there's a very clear and direct connection.