[Dont_Tread_On_Me_888]

But the fact remains that the business cycle itself has far more to do with the current state of the economy than anything any president does or does not do.

[groanup]

We're going in circles here. Of course you're right that the state of the economy has everything to do with the business cycle, just as the business cycle has everything to do with the state of the economy. Government can have a significant effect on the state of the economy with tax policy.

The Federal Reserve can (and usually does) have everything to do with the state of the economy because it affects business cycles by mananging short term rates and bank reserves but it is still the president who appoints Fed governers and the chairman.