The economy is big, complex and difficult for most people to understand. In reality, the president may not have as much control over the economy as people tend to think — the Federal Reserve, for instance, has a much more direct influence over how well the economy does.
Nevertheless, economic performance continues to heavily influence how people vote. If the economy does well, an incumbent president has a much better chance of being re-elected. If there is a recession, their chances may be slim.
To be fair, the president does have some power to influence the economy. For one, trade policy can make a big impact. And during times of crisis, the president can expedite relief that may significantly lessen the long-term economic damage that may otherwise have lingered.
Still, the economy is complex. When we dive into the numbers (which we’ll do shortly — the numbers will be what they were when their terms ended), we realize most presidents have been good for the economy in some ways, and less good in others. This highlights the fact that despite what presidents say, their real-world economic impact may not be quite what we expect.
