To use a different metaphor, the Fed and the Presidents are playing a game of musical chairs with their successors and no one wants to be the one standing when the music stops.
So yes, it's not about the President, but the nature of control over the financial system is not through the interest rate channel either.
I'm not sure how you can come to that conclusion given it is common knowledge and fairly obvious that the Fed has been inflating the economy at absurd amounts to get us out of the 2008 crash.
Sadly, it's highly likely that the current administration will - of course take credit - but more importantly - reap all the rewards (i.e. votes) in the next federal election.
I still am amazed at how Obama pulled the US from the brink of utter financial collapse shortly after taking office. Hopefully the next incoming administration will be as lucky.
The public debt almost doubled from 11T to 20T during his presidency). He also created moral hazard by not only NOT prosecuting people who he himself called "fat cats of Wall Street", but actually continuing to bail them out (started by W. Bush)
It's worth noting I do blame Obama era policies for wage and working condition stagnation/deterioration, which is the thing I actually care about (gdp and unemployment numbers are basically pointless if people who have jobs are living in third world conditions). That said, I have zero hope that the current administrations policies will reverse that trend in any way.
The market started rising promptly after Trump's election, presumably in anticipation of the coming tax cut.
Also, impose tariffs as we're seeing with the last 24 hours.
Businesses don't have to worry about being the primary source of food or housing for their employees either, and somehow this is true without the government taking over agriculture and real estate.