“Fed president would be OK with changes to dual mandate”
“James Bullard, president of the Federal Reserve Bank of St. Louis, said “it would be OK with me” if Congress used legislation to remove the Fed’s current mandate that it maximize employment in addition to controlling inflation. Bullard made his comments in an interview with Fox Business.
“The only thing the Fed can do in the long run is control the inflation rate,” Bullard said. “And even though we have a dual mandate, we say that our best contribution to the dual mandate is to provide a stable price backdrop for the economy. Then that gives businesses and households a good platform from which they can make all of their decisions — let markets work. And then you get the best allocation of resources that you can.”” Read more.
“Fed president would be OK with changes to dual mandate”
Peter Schroeder
On the Money, December 2, 2010.
Image by jscreationzs / FreeDigitalPhotos.net.
