How the Presidency affects Inflation
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Chloe Wilson
College:
College of Business and Public Management
Major:
Accounting
Faculty Research Advisor(s):
Huaibing Yu
Abstract:
George Washington was the first president of the United States of America. And in doing so, he appointed Alexander Hamilton as the secretary of treasury. In return, he created the first national bank. Public credit was introduced to help alleviate national debt after the Revolution. And in doing all of this, he created the foundation for the Federal Reserve Bank. Since the Federal Reserve as been around as long as the Office, I would like to observe how Presidents and their policies affect Inflation and what are the effects from their actions.
Inflation is defined as a general increase in price and fall in the purchasing value of money.
Deflation could be defined as a reduction of the general level of prices in the economy. The government has deflated twice in the last 60 years. Starting with 2009 in the Great Recession. And in 2015 where the CPI almost broke below 0% at -0.1%. Ironically enough 2009 was a transitional period between former President George Bush, and former President Barack Obama.