This is a common view, but I don't buy it. Presidents have enormous power to do things which greatly influence the economy, eg,Dawg, you said it best when you said the president has no control of the economy.....
waging continual wars, vetoing bills, the bully pulpit, administrative rules, regulations, Supreme Court appointments (responsible
for the juggernaut which the interstate commerce clause has become). Bush & Obama were & still are an economic disaster.