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<blockquote data-quote="Flipx99" data-source="post: 4530529" data-attributes="member: 562352">I would agree with you if you exchanged the word control for responsibility. While he may be responsible for the actions of subordinates, he definitely does not have the means to control them.As for the falling dollar and oil prices.It can be saved by adjusting the short term interest rate target. It is not all that wise to do that during a recession. The dollar is supposed to fall at times...as that is how business cycles works. I think what most people don&#039;t get is that many of us come to intellectual age during a high point of the business cycle. Furthermore, the President does not have control, well limited control in that he reccomends a guy to be chairman, over the actions of the Federal Reserve and the conduct of monetary policy. The price of oil is filled with speculation, no doubt about it. Again, that is outside the control (and in my opion the responsibility) of the office of President. I guess Congress could make a law forbidding the investment in oil futures (but then they would also have to limit total return swaps and a variety of other financial derivatives too complex for this discussion). While policies and programs could have reduced this strain, I am not sure it is his responsibility to control the market. Actually, I would prefer a President whose goals was to limit their influence to the market either way.</blockquote>

[QUOTE="Flipx99, post: 4530529, member: 562352"] I would agree with you if you exchanged the word control for responsibility. While he may be responsible for the actions of subordinates, he definitely does not have the means to control them. As for the falling dollar and oil prices. It can be saved by adjusting the short term interest rate target. It is not all that wise to do that during a recession. The dollar is supposed to fall at times...as that is how business cycles works. I think what most people don't get is that many of us come to intellectual age during a high point of the business cycle. Furthermore, the President does not have control, well limited control in that he reccomends a guy to be chairman, over the actions of the Federal Reserve and the conduct of monetary policy. The price of oil is filled with speculation, no doubt about it. Again, that is outside the control (and in my opion the responsibility) of the office of President. I guess Congress could make a law forbidding the investment in oil futures (but then they would also have to limit total return swaps and a variety of other financial derivatives too complex for this discussion). While policies and programs could have reduced this strain, I am not sure it is his responsibility to control the market. Actually, I would prefer a President whose goals was to limit their influence to the market either way. [/QUOTE]

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