Learn what powers the president does and does not have to influence the economy and your wallet. Does the president really have power over the economy? How do presidential promises impact your wallet? Hosts Sean Pyles and Anna Helhoski discuss the grand economic promises made by presidential candidates and the intricate realities of presidential influence on the economy to help you understand the real effects on your daily finances. They begin with a discussion of the policy proposals from Donald Trump and Kamala Harris, with tips and tricks on understanding the scope of presidential influence on taxes, inflation and economic growth. Then, Anna talks to NerdWallet Senior Economist Elizabeth Renter about the complexities of the business cycle and the Federal Reserve's role in the economy. They discuss the limited presidential power over economic cycles, the structure and independence of the Federal Reserve, and the direct effects of presidential actions like student loan relief on individual finances. Listen to Smart Money’s coverage of the “No Tax on Tips” policy: Stay up to date on the latest financial news by visiting NerdWallet’s Financial News Hub: In their conversation, the Nerds discuss: presidential promises, economic policies, financial impact, presidential influence, economic realities, Federal Reserve, Donald Trump economic policies, Kamala Harris economic policies, taxes, deregulation, economic growth, cost reduction, small business support, down payment assistance, business cycle, Federal Reserve structure, Fed independence, Fed governors, monetary policy, student loan relief, macroeconomy, personal finances, campaign promises, tax policies, inflation control, healthcare impact, banking regulations, economic cycles, consumer sentiment, government spending, fiscal policy, executive orders, economic output, GDP growth, unemployment rates, economic downturns, financial stability, economic sentiment, policy and finance, and election impact. To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email [email protected]. Like what you hear? Please leave us a review and tell a friend. Learn more about your ad choices. Visit megaphone.fm/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.