Election Economics: How Can Presidents Really Impact Your Pocketbook?

Oct 3, 2024

Donald Trump, a former president known for his controversial economic policies, joins the hosts to explore the real effects of presidential promises on your wallet. They discuss how much power a president truly has over the economy, revealing the complexities behind their influence on taxes and inflation. Insights into the Federal Reserve's independence are shared, along with the impact of policies like student loan relief on personal finances. The conversation emphasizes the importance of critically assessing political commitments and understanding economic realities.

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Intro

00:00 • 2min

Presidential Policies and Personal Finance

02:02 • 6min

Presidency and Economic Cycles

08:09 • 8min

The Presidential Influence on Personal Finances and Economic Perception

16:11 • 6min

Perception vs. Reality in Presidential Economic Impact

21:56 • 3min

Learn what powers the president does and does not have to influence the economy and your wallet.

Does the president really have power over the economy? How do presidential promises impact your wallet? Hosts Sean Pyles and Anna Helhoski discuss the grand economic promises made by presidential candidates and the intricate realities of presidential influence on the economy to help you understand the real effects on your daily finances. They begin with a discussion of the policy proposals from Donald Trump and Kamala Harris, with tips and tricks on understanding the scope of presidential influence on taxes, inflation and economic growth. Then, Anna talks to NerdWallet Senior Economist Elizabeth Renter about the complexities of the business cycle and the Federal Reserve's role in the economy. They discuss the limited presidential power over economic cycles, the structure and independence of the Federal Reserve, and the direct effects of presidential actions like student loan relief on individual finances.

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In their conversation, the Nerds discuss: presidential promises, economic policies, financial impact, presidential influence, economic realities, Federal Reserve, Donald Trump economic policies, Kamala Harris economic policies, taxes, deregulation, economic growth, cost reduction, small business support, down payment assistance, business cycle, Federal Reserve structure, Fed independence, Fed governors, monetary policy, student loan relief, macroeconomy, personal finances, campaign promises, tax policies, inflation control, healthcare impact, banking regulations, economic cycles, consumer sentiment, government spending, fiscal policy, executive orders, economic output, GDP growth, unemployment rates, economic downturns, financial stability, economic sentiment, policy and finance, and election impact.

To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com.

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