Teaching, Writing and Talking About the Global Economy

Tag: Taylor Rule

The Dual Mandate: Right Goals, Wrong Institution?

By Stephanie Kelton The statutory objectives for monetary policy known as the “dual mandate” were imposed by Congress as part of the the Federal Reserve by Act of 1913. ┬áThe mandate charges the Federal Reserve with responsibility for achieving two broad macroeconomic goals: “maximum employment and stable prices.” Much has been made (especially by those… Read More ›