In 2016 after the US Presidential Election, there was the usual hue-and-cry from progressives in my ambit worried that the economy is doomed. My position was that, contrary to the general public perception, American Presidents don't really have much say in the economy. The underlying assumption was that, if not the President, the team around him/her is composed of 'rational' actors who will rein in the worst impulses of the C-in-C. Ergo, there was nothing to worry about. 🧵 1/2.