Carter? We could argue it started with the lines at the gas pump during the Nixon/Ford years. Volcker stepped in and raised interest rates to slow inflation, which worked, but also stifled the economy. Then a little too late for the Carter presidency he lowered interest rates. Which prompted the recession at the beginning of Reagan years followed by inflation under Reagan. But the economy started picking up as companies could afford to invest. Then under Reagan's plan, spend more/tax less, the deficit went bonkers.
Fast forward to today, some people perceived the economy to be better during Trump. But was it really? Sure, the market went up, but that was pure speculations thinking there would go on a spending and growth spree when covid ended. It wasn't based on real earnings or growth, but hoping the economy would pop post covid. People didn't spend like the speculators thought. On top there are labor market shortages, some industries have been slower to come back up to capacity than expected (some countries are way behind), the global supply chains are still disrupted, price gouging, and governments around the world, not just in the US, trying to boost the economy in response to this. Which started good and didn't end that well. Who knows, it may be worse today if they didn't try to do something? There's a lot of people saying different things based on hindsight. To that end, feds response is to curb inflation by raising interest rates. To reiterate, this is a worldwide problem.
Today I'd like to think we're moving in the right direction. Perhaps it's all just another phase in this ongoing cycle I've seen throughout my life caused by various circumstances. One which I believe is beyond any administration's long-term intervention.
Consider how many presidents have tried rebate/stimulus checks? Sure, getting a check makes people happy but the impact is negligible and could be argued it has the reverse effect long term. As I often say to people, everyone wants to pay less tax, but they complain when they hit a pothole in the road. You can't have your cake and eat it too!