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However, the president alone isn’t responsible for economic outcomes. Generally, policymakers have two main tools to influence the economy: monetary and fiscal policy.
For the 13 presidents beginning with Truman, total job creation was about 70.5 million for the 7 Democratic presidents and 29.1 million for the 6 Republican presidents. The Democratic presidents were in office for a total of 429 months, with 164,000 jobs per month added on average, while the Republicans were in office for 475 months, with a ...
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 ...
Source: "An Economic Ranking of U.S. Presidents, 1789-2009: A Data-Based Approach," Mark Zachary Taylor. As you can see, not many present-day presidents cracked the top 10.
Yes, the economy is continuing to expand nicely, which all Americans should celebrate. But no, there's nothing remarkable in the overall results since Mr. Trump took office. Most importantly, there is little evidence that the president's policies have meaningfully improved the fortunes of those 'forgotten' Americans who elected him. [33]
The 2017 Economic Report of the President stated that: "Since the end of 2012, private production and non-supervisory workers, who comprise about 80 percent of private-sector employment, have seen their real hourly earnings increase by 5.3 percent, more than the total cumulative real wage gains for these workers from 1980 to 2007. Overall, real ...
For additional context and explanation, see Morgan Housel's article on "The Best Presidents for the Economy." To get ready for the post-election market, check out our free report: " These Could ...
President-Elect Donald Trump's upcoming second term raises critical questions about the impact of his economic policies on Gen Z -- the youngest generation in the U.S. workforce. "Gen Z should ...