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Fed Officials Not Attached To Dual Mandate

Monday, January 10, 2011 - 8:01 AM
From Reuters:
One thing's for sure: no one at the Federal Reserve is leaping out of their chair to defend the central bank's mandate to ensure full employment from proposals it focus solely on delivering price stability.

It doesn't look like the chances are good that Congress will be able to change the Fed's mandate. Such a change could be useful if we see a rise in inflation as unemployment stays high. In that case, the single mandate to deliver price stability would probably make it more likely for the Fed to raise rates.
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Ken TuminKen Tumin5,467 posts since
Nov 29, 2009
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