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News Link • Foreign Policy

Principle, Rigor and Execution Matter in U.S. Foreign Policy with George Friedman

• arclein

I have always been amazed when presidents take credit for creating jobs or are blamed for high interest rates. Under our Constitution, and in practice, presidents have precious little influence on either. They cannot act without Congress or the Federal Reserve concurring, and both are outside presidential control. Nor can presidents overcome the realities of the market. They are prisoners of institutional constraints and the realities of the world.

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