In modern society, the reputations of presidents are hugely determined by the increase or decrease with the country's GDP. This implies that the re-election of presidents is majorly dependent on the economy’s performance at that particular time. Presidents’ actions are bound to affect the economy in the following ways:
The president must appoint the chair of the Federal Reserve; whose role has a significant impact on how monetary policies are carried out. This is with the help of the decisions made by the board of governors, also appointed by the president. Whenever there is a financial crisis, for instance, the president impacts the use of fiscal policies to help in the resolution of such issues. Besides, the president has the responsibility of effecting agency policies including the Federal Trade Commission in control of the impact of monopolies on the performance of the economy.
Delegate your assignment to our experts and they will do the rest.
Research has it that the economy is hugely affected by government spending. The president’s party in accompaniment with the Congress party’s decisions with regards to government spending are bound to affect the economy on a considerable scale.
The president is also a role player in the determination of GDP and its distribution among the variety of classes of income in the country. The governmental policy is bound to have a smooth flow provided that the same party runs both Congress and the Executive. The opposite has adverse effects on the economic performance of the country due to disagreements on decisions to get made with regards to the economy of the state.
It is true to say that the president does not have total control over the economy. However, we cannot ignore the fact that the president’s actions have a massive impact on the economic performance of the state.
Reference
New York Times. (2019, February). The President and the Economy. New York Times [New
York], p. 13.
