Copyright © 2018 MarketWatch, Inc. All rights reserved.Until Barack Obama, that is.
The Federal Reserve probably did more to boost stocks than Obama or Congress, through its novel quantitative-easing monetary stimulus, which turned out to be powerful financial medicine. The nonpartisan Fed, in fact, probably has more influence over the economy than any other institution, public or private—and certainly more influence than the White House.Alexis Christoforous gets the lowdown on love from eHarmony CEO Grant Langston
The Fake News Media barely mentions the fact that the Stock Market just hit another New Record and that business in the U.S. is booming...but the people know! Can you imagine if “O” was president and had these numbers - would be biggest story on earth! Dow now over 25,000.
Presidents are quick to take credit when the stock market and the broader economy perform well under their watch. Trump has tweeted many times about the booming stock market of the past year, the strong job market and a number of other economic gains. Obama was a more circumspect tweeter, but he, too, touted economic gains during his administration, usually in speeches.Alexis Christoforous gets the lowdown on from eHarmony CEO Grant Langston
Did Obama do much to boost stock values and help the economy? Probably not much more (or less) than any president would have done under the circumstances. Congress passed a huge stimulus bill shortly after Obama’s inauguration, and even though it was unpopular among Republicans, any other president probably would have signed something similar, since fiscal stimulus is essentially a standard government response to economic crisis.Alexis Christoforous gets the lowdown on love from eHarmony CEO Grant Langsto