(NYTimes Jan. 17, 2017) [The] reality is that presidents have far less control over the economy than you might imagine. Presidential economic records are highly dependent on the dumb luck of where the nation is in the economic cycle. And the White House has no control over the demographic and technological forces that influence the economy.
Even in areas where the president really does have power to shape the economy ó appointing Federal Reserve governors, steering fiscal and regulatory policy, responding to crises and external shocks ó the relationship between presidential action and economic outcome is often uncertain and hard to prove.
Voters give presidents more credit or blame for the economy than they deserve. Jim Jordan recently remarked that gasoline was cheaper a couple of years ago when Trump was president. Yeah, demand for oil and gas was down then because of COVID people weren't taking vacation flights; people were working remotely from home; restaurants, businesses and schools were shut down. There were fewer places to drive to. Now there is pent up demand to travel since the world is opening up post-pandemic.
Even without being named, Biden is getting bad press whenever the average price of gas goes up. He gets bad press whenever supply chain issues (a result of the global pandemic) cause shortages and prices to rise.