The Economy in Perspective
Off we go (into the wild blue or red yonder) … We write this page in complete ignorance of the election results; ballots will not even be cast for another few days. Will the outcome matter for the economy? Of course it will. Presidents can influence legislation whether their party controls the Congress or not. Through control over the executive branch’s administrative machinery, presidents also have considerable power to influence how laws are implemented on a daily basis. Laws and regulations affect so many aspects of commerce that it would be a mistake to think that presidential politics do not affect the pattern of economic activity.
Suggested citation: "The Economy in Perspective," Federal Reserve Bank of Cleveland, Economic Trends, no. 04-11, pp. 01, 11.01.2004.