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Politics : Foreign Affairs Discussion Group
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To: jttmab who wrote (218327)2/14/2007 8:09:38 AM
From: Ilaine  Read Replies (1) of 281500
 
Presidents claiming credit for the economy is nothing but a scam.

Agree, more or less.

Presidents appoint the Chairman of the Board of Governors of the Federal Reserve, who have a lot of effect on money supply and a lesser effect but still significant on interest rates, and Reagan appointed Alan Greenspan, which was one of Reagan's best moves. I also think Bush appointing Ben Bernanke was a good move.

Presidents also appoint Secretaries of the Treasury, who also affect interest rates and money supply.

Presidents also have their personal favorite legislative items, which they are willing to twist arms and horse trade with Congress in order to achieve.

Interest rates, money supply and tax policy do affect the private sector, but these are nor things any president can affect directly.

I believe that the president does appoint the members of the PPT -- Plunge Protection Team.
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