Interesting thread on how, when Congress determined US post-Civil War monetary policy, it resulted in some very unexpected economic and political results. And how current economic policy might affect us going forward.

A recession doesn’t necessarily spell doom for the president on duty. Eisenhower absorbed a 10 month recession in 1953-54 and still got re-elected in 1956. Reagan overcame a ferocious recession in 1981-82 to win re-election in 1984. But … 1/x

— David Frum (@davidfrum) June 13, 2022