Ifall, sorry to hit you like this but you are just flapping your gums.ifallalot said:Don't forget the the Federal Reserve System considers itself "an independent central bank because its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government, it does not receive funding appropriated by the Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms.everysurfr said:Really? Nothing? Who sets interest rates? Who appoints the Fed Chairperson? What does the bond rate have to do with the stock market. What does the cost of war do to employment, and scarcity ?ifallalot said:[.
Neither the housing market or the stock market had anything to do with Obama.
The President isn't all powerful, but I'd say they have a weighty input.
I guess the President starts wars nowadays, but that's not legally supposed to happen. However, today's wars are limited and ran on a deficit anyway. Its not a WWII style total war that's going to have extreme effects on the economy.
Presidents love to take credit when the market is up, and love to pass the buck when it is down. Even the Federal Reserve doesn't have the effects on the economy it thinks it does
I'm not sure that the Federal Reserve members consider themselves independent. The Chairman is appointed by the President, hopefully after consideration that the chairman's views mesh with the President's. In addition, both the Fed Chairman and the Governors can be removed by the President for cause.
You made the statement that current wars don't have an extreme effect on the economy. Please validate your asertation. What would our economy be like if Bush didn't borrow a couple of trillion dollars for Iraq and Syria, and instead, spent it on infrastructure in Flint Michigan? Maybe on mandatory housing for the homeless, and they get released when they are sober and employable?
Please quantify how much affect the Fed Reserve does have on the economy, compared to how much affect they "think" they have.
Otherwise it's trumpian. "Huge", everybody knows, the best we've ever seen...