Presidents often receive too much credit when the economy is strong and too much blame when it’s weak. In reality, they have limited control over prices. The real drivers are the forces of global capitalism: supply and demand, profit margins, supply chains, wages, currency fluctuations and foreign conflicts all play a role in raising costs. COVID-19 made things worse.
Many wrongly blame inflation on specific candidates or policies when central banks, like the Federal Reserve, have a much larger influence. Major economic swings take time to stabilize.
When assessing candidates, ask what a president has done, like negotiating drug prices, encouraging increases in energy production and investing in higher-paying industries. And better yet, ask how their policies impact the economic order.
Markets prefer stability. Organizations like NATO stabilize. Tariffs can destabilize. Consider whether candidates are investing in the future rather than focusing on short-term economic blame.
Carl Sabatino
Kapahulu
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