We're a capitalist, free-market economy, more or less. Regulations and taxes interfere with these concepts in a big ay, but not in a direction-seeking way. Compare us to a "controlled economy" which is what communist governments attempted to be for so many years, and is actually the phrase economists use to distinguish communist countries from capitalist countries. Controlled economies ultimately fail--most of them already have.
So I find it entertaining, and kind of sad, when people attribute economic conditions to the president. Business cycles move in ways that no one can control, despite huge efforts by every government in the world to do so since the beginning of recorded history -- remember the story of the Pharoah's dreams in Genesis 41 (good harvests followed by bad harvests, the government should build warehouses and to store grain and smooth out supply and demand). We still do this today, with grain crops, and the strategic oil reserve stored in salt caverns, and the various strategic element, mineral and metal reserves we maintain, or used to maintain, for various minerals such as chromium, nickel, manganese.
But we suck at it, and so does every government. Business cycles are uncontrollable and only barely predictable. The election cycle is not connected to them. We praise the presidents who happened to be in office when the cycles turn up, and punish the presidents who occupied the chair when the cycle turns down.
And these elected idiots reinforce this fiction by taking credit for the upturns, and dumping on their predecessors when things go bad.
Governments can, and do, implement policies that can shock the economy into kicking up or crashing down, but only in the short run (the results last less than a year or two). In the long run, the economy floats back to wherever it was going to be, in the giant sine wave that is the free market economy.
It's just a sign of political and economic naivete to credit presidents for good economic conditions, or blame them for poor ones. Especially two months into their term, before they've done anything to the tax code or even submitted the first budget. Stock market bubbles really don't count.