However, the stagflation of the 1970s inspired politicians to assign another task: promoting maximum employment.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability.
FORBES: QE3 Decision: Fed Vows To Buy Bonds Until Economy Recovers (Live Blog)
So, the best way for the Fed to create maximum employment is to focus on the single mandate of price stability.
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
We will calibrate the timing and pace of any future tightening, together with the mix of tools to best foster our dual objectives of maximum employment and price stability.
The Full Employment Act of 1946 made the federal government responsible for job creation and accepted the crude Keynesian idea that aggregate demand management could be used to achieve maximum employment.
FORBES: Bernanke Administers Another Cruel Dose Of Financial Morphine With QE3
The housing market is key to the U.S. recovery, which incentivizes the government to print more money and debase the currency, just as the Federal Reserve is driven to seek maximum employment.
FORBES: China, India And The Fear Trade Keep Gold Bull Breathing
To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the economic recovery strengthens.
FORBES: QE3 Decision: Fed Vows To Buy Bonds Until Economy Recovers (Live Blog)
The goal of maximum employment is a chimera.
FORBES: Bernanke Administers Another Cruel Dose Of Financial Morphine With QE3
The best way for the Federal Reserve to support the fundamental value of the dollar in the medium term is to pursue our dual mandate of maximum employment and price stability, and we will certainly do that.
FORBES: Bernanke: Don't Blame The Fed For Currency Wars And (Commodity) Inflation
Just wait and see, they asked the general public, telling them that as time passes, both unemployment and output would move back to levels at or around those consistent with their dual mandate of price stability and maximum employment.
FORBES: Bernanke Fed Blames Commodities And Japan For 'Soft Patch'
The Committee will regularly review the pace of its securities purchases and the overall size of the asset-purchase program in light of incoming information and will adjust the program as needed to best foster maximum employment and price stability.
To support continued progress toward maximum employment and price stability, the Committee expects that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens.
FORBES: 'The Best Negative GDP Report I Have Ever Seen' (And Other Quotes Of The Week)
It also mandated -- or said it was the role of the federal government to promote maximum employment, production, and purchasing power, and that every year the Council of Economic Advisers of the President were to submit a report to Congress saying how we were doing.
应用推荐