That's not actually the case. If you look at the money supply for the US it has a pretty constant growth rate over the last 8 decades - while the Federal Reserve claims to be messing around with the interest rate to control the economy, the actual evidence that this is the case is quite lacking. (Illusion of Control problem)

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.