Thus, the Federal Reserve, responding to a dual mandate of fostering full employment and price stability, is forced to act.
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Perhaps it is because the Fed must comply with the dual mandate and pay attention to both price stability and full employment.
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The Fed has a duel mandate: maintain full employment and price stability.
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For that matter, it is fair to ask whether the Fed should be promoting inflation at all, given its dual mandate of price stability and full employment.
It's also worth mentioning that the Federal Reserve already had an employment target: unlike most central banks, its mandate tells it to pursue not just price stability but full employment as well.
Usually, it will be cloaked in terms like full employment, price stability, temporary stimulus, quantitative easing, and economic growth, but manipulation of the money supply serves only to favor the issuers of that particular monetary unit.
In other words, instead of setting a date for interest rates to go up and easy monetary conditions to tighten, they would seek to tie those decisions to variables that reflect their dual mandate (i.e. price stability and full employment).
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But working people need and deserve a functioning NLRB, and confirmation of a full package will provide that stability.
The Humphrey Hawkins Act of 1978 made the Federal Reserve responsible for creating the monetary means to achieve full employment while maintaining price stability.
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ECB's treaty-prescribed duty is not to keep the economy at full steam but to maintain price stability, which it defines as a rate of inflation of no more than 2%.
The next package for Greece will require a full parliamentary vote, as will the creation of the European Stability Mechanism, the successor to the EFSF.
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Since it is (almost) universally accepted that full employment is best achieved in a stable economy, price stability is, in practice, the Federal Reserve's prime concern.
To achieve price stability, it would require the Fed to monitor a full range of asset prices including not only goods and services, but also the price of gold and the foreign exchange value of the dollar.
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The talks on Friday produced a financial statement, agreed by the leaders of the 26 countries, expressing "confidence that with full implementation of the necessary policy reforms and strong mutual support, financial stability would be restored".
The case poses two concerns for authorities: preserving the stability and reliability of computerized trading, and ensuring that investors have full faith in that system.
But the Mediterranean country has stopped short of following in the footsteps of Greece, Ireland and Portugal in requesting a full-blown sovereign bailout from the eurozone's rescue fund, the European Stability Mechanism.
With the bad loans and their collateral freed from contracts and available for resale and the legal structural changes returning the market to stability with natural constraints on oversupply, the train building market should rapidly return to full health.
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During the quarter, we demonstrated stability in our feature phone business, and enhanced our competitiveness with the introduction of our first full touch Asha devices.
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The wider story is about the stability of South Sudan and of how the country may go to war with Khartoum before a referendum on full independence in 2011.
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