We are all aware that the Fed has a dual mandate of stable prices and maximum employment. But what may come as a surprise to most is that they have a distinct preference in their mandates. The Federal Reserve under Ben Bernanke has a clear bias toward fulfilling the goal of maximum employment.Looking at those two mandates, I would say that the Fed has been a miserable failure. In fact, the Fed has been a failure at everything except printing money and causing inflation.
Tuesday, October 25, 2011
The Federal Reserve's Dual Mandate
I read an article today that stated that