About 50% of Americans believe the outcome of the 2024 presidential election will have a direct impact on their personal finances, according to a survey by financial services firm Empower. Additionally, about 99% of voters in a Gallup poll said the economy is at least somewhat important in influencing their vote for the next president.
“Voters are definitely using the economy as a yardstick to evaluate the president,” said John Cain, a clinical associate professor of political science at New York University. “People end up with this image in their heads that the president is some kind of economic wizard behind the curtain pulling levers, but we all know that I’m just on the receiving end.”
But experts say the president’s power over the economy may be overstated.
“In a politician-driven society, there is a tendency to exaggerate the amount of power the president wields,” said Mark Hamrick, senior economic analyst at Bankrate. “And what is being encouraged by participants in these campaigns is, ‘You got a problem? I’ll fix it.'”
Watch the video above to see how much influence the US president has on the economy.
