Each campaign has been using their own set of data points to create a favorable economic picture of their time in office. But for many voters, their view of the economy will vary greatly on how they fit into it.
We’re still getting disproportionately screwed under Trump’s tax plan that expires next year. POTUS can’t control grocery prices unless we want a failed Executive Order like Nixon’s. Biden has done everything a President can do about gas prices by opending a record number of reserve barrels during record high production, proving that POTUS can’t control the price at the pump.
The only remaining financial controllable that Biden could change is the high interest rates through the Fed.
Edit: As I learned below, that’s not really an option.
You’re right. I wrote “through the Fed” meaning indirectly. POTUS appoints most of the voting officials and can replace the chair, but there’s no direct control of interest rates.
We’re still getting disproportionately screwed under Trump’s tax plan that expires next year. POTUS can’t control grocery prices unless we want a failed Executive Order like Nixon’s. Biden has done everything a President can do about gas prices by opending a record number of reserve barrels during record high production, proving that POTUS can’t control the price at the pump.
The only remaining financial controllable that Biden could change is the high interest rates through the Fed.Edit: As I learned below, that’s not really an option.
Biden doesn’t control the fed. It’s an independent entity.
You’re right. I wrote “through the Fed” meaning indirectly. POTUS appoints most of the voting officials and can replace the chair, but there’s no direct control of interest rates.
Can he replace the Fed chair arbitrarily though?
That’s a good question. I just looked it up. It’s possible, but it’s never been done before. So it’s not a realistic option.