Facebook pixel tracker
91B0FBB4-04A9-D5D7-16F0F3976AA697ED
C9A22247-E776-B892-2D807E7555171534

Owen on Marketplace: Presidential Control of Economy


 Ann Owen
Ann Owen

The day the Senate passed a possible blueprint for President Biden’s $1.9 trillion COVID relief plan, Marketplace broadcast an appropriately timed interview with Ann Owen, the Henry Platt Bristol Professor of Economics. The segment addressed the question, how much control do presidents really have over the economy?

Owen answered that although presidents get credit for the economy doing well and blame for the opposite, both are probably misplaced. “Sometimes the groundwork for success has been laid by the previous administration, but the next administration takes the credit or vice versa,” she said. “A lot depends on Congress and monetary policy which the president doesn’t control.”

In this administration, however, Owen feels that President Biden may have more influence than usual. “The underlying problem is a public health crisis. Anything the president can do to address COVID could have a significant impact on the economy.”

Marketplace has more than 14 million weekly listeners on more than 800 local public radio stations nationwide and millions across digital platforms.

Back to Top