Does any president deserve credit for an economic boom or recession? Who is more important in...

Does any president deserve credit for an economic boom or recession? Who is more important in influencing the economy—the president or the chairman of the Federal Reserve Board? Explain.

Expert Solution

Yes, the president in the market can take some credit in the market for economic boom and bust because there are several factors in the market that depend on the decision of the President like trade laws for example free trade with nations, property laws like intellectual property laws and taxes like tax holidays to support some sector and managing externality in the market.

Fed's position is also important in the economy because they can expedite and slow down the business cycle in the economy or we can say just influence the econmoic activity but steering the economy is in the hand of the president.

Rahul Sunny answered 2 years ago

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