That seems to be added in the 1977 amendment to the bill. Was the same goal in the 1913 bill? Edit: I stumbled upon [1] will trying to find an answer but my la

That seems to be added in the 1977 amendment to the bill. Was the same goal in the 1913 bill? Edit: I stumbled upon [1] will trying to find an answer but my lack of US-legalese skill makes it too hard to comprehend. [1] https://uscode.house.gov/view.xhtml?path=/prelim@title12/chapter3&edition=prelim https://uscode.house.gov/view.xhtml?path=/prelim@title12/cha... [2] original text: https://www.llsdc.org/assets/FRAdocs/fra-lh-pl63-43.pdf https://www.llsdc.org/assets/FRAdocs/fra-lh-pl63-43.pdf No “stab” as in stable of stability in there, nor prices in the quoted context. Now that we’ve got that overboard, the article makes pretty good sense to me. Central banks having the function of keeping banks functioning at all times might not always be compatible with central banks have a primary duty to use monetary policy for governments sake. See the conundrum the ECB was and is in. Raise rates (at all or too fast) and states fail. That’s more important to them than banks failing. I have no opinion on what’s right - as an economist I always found monetary economics too hand-wavey (or hard, for a not very mathematical branche of economics). The Hills point might be right.