Business Services Industry
Presidents have 'little impact' on economy, strategist tells Las Vegas group.
Knight Ridder/Tribune Business News, November, 2004
By John G. Edwards, Las Vegas Review-Journal Knight Ridder/Tribune Business News
Nov. 12--Presidential candidates talk a lot about the economy -- remember President Clinton's "It's the economy, stupid" -- but presidents themselves have little immediate effect on the economy, according to an investment strategist.
James Paulsen, chief investment strategist with Wells Capital Management, an affiliate of Wells Fargo Bank, said a president's actions, however, may have longer-lasting effects after they've left office.
"They have very little impact on the economy during their tenure, because it's already baked in," Paulsen said. "I think (presidents) are more victims than drivers (of the economy)."
Paulsen outlined his views...
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