Sure, this makes perfect sense, if you believe the economic situation is entirely dependent on who the president is, which is obviously ridiculous.
I believe the president helps set things in motion that helps yes. Energy restrictions and such as well as Congress. Kinda their job ya know? Energy cost and Oil cost in our country were highly impacted by refusing to drill more, selling our reserves off and harsher restrictions on coal.
It doesn’t take half a brain to know energy and fuel restrictions directly impact the costs of goods and materials.