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In the specific case of the Federal Reserve, its dual mandate requires it to focus on price stability and maximum employment.
FORBES: Deflationary PPI Questions Effectiveness Of Bernanke's QE
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It falls to him to say that in the current tepid economy, France simply can't afford to cut taxes (even though they are among the highest in the world), build up its military and still reduce its deficit by 0.5%, as the Eurozone's rigid stability pact requires it to do.
FORBES: Magazine Article
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Like skiing, it requires a certain degree of mastery, a countervailing ability to contend with the panic and reassert a measure of stability.
NEWYORKER: Master of Play