In the wake of our debate last week on the proper policy for the Fed, I have been meaning to do a post on how an economic downturn would impact the 2008 presidential election, though I noticed that Marc Ambinder beat me to the punch.
We should never forget that Bill Clinton swept into office because of a rather mild recession that we were already climbing out of by the time the November election hit. The 2008 Republican nominee will already have his hands full trying to deal with public dissatisfaction with
I still disagree with Quin's idea that the Fed should cut rates, and I don't think it is wise for the Fed to make its decisions based on short-term market fluctuations, especially when the threat of inflation is so legitimate. And I'm not even predicting doom for the economy. I'm just speculating as to how it may affect the election if, in fact, the current stock market volatility does prove a leading indicator of a coming economic downturn.
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