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About 50% of Americans believe the result of the 2024 presidential election will directly affect their personal finances, according to a survey by financial services company Empower. And about 99% of voters in a Gallup survey said the economy was at least somewhat important in influencing their vote for the next president.
"Voters absolutely are using the economy as a metric by which to evaluate presidents," said John Kane, a clinical associate professor of politics at New York University. "People can eventually get this sort of picture in their minds of a president as kind of an economic wizard behind a curtain that's pulling levers, and we're just all on the receiving end."
But according to experts, the president's power over the economy might be exaggerated.
"There has been a tendency on the part of our society led by politicians to exaggerate the amount of power that the president wields," said Mark Hamrick, a senior economic analyst at Bankrate. "And that's encouraged by participants in these campaigns: 'You've got a problem? I'm going to solve it.'"
Watch the video above to discover how much influence the U.S. president has over the economy.
English (US)