Historically speaking, the president gets too much credit for thriving economies and too much blame for languishing economies. That is, presidents can advance policies that are beneficial to the economy, but they face significant headwinds that prevent strong economic performance. Likewise, presidents can advance policies that are detrimental to the economy, yet tailwinds result in strong economic performance.Â
Having said that, presidents can certainly make unforced errors regarding economic policy. Many economists believe that to be the case with the current administration’s tariff policies.