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The Fed isn't doing exactly what it was chartered to do--it has had a dual mandate since 1977 that complicates its purpose. Regardless, the problem in this syst
by jameslk 8y ago
The Fed isn't doing exactly what it was chartered to do--it has had a dual mandate since 1977 that complicates its purpose. Regardless, the problem in this system seems more attributable to fractional reserve banking, which is force multiplier on the effects of central banks.
- NTDF9 8y agoI believe the Fed's mandate is wrongly placed. The Fed should only be responsible for money supply, not for full employment. Full employment should be a burden taken on by elected representatives in congress or the executive. The dual mandate asks a fish to make sure the boat flies.