XES - Powerless Powell's Jerome Jeremiad
A Slowing U.S. Economy and Rising U.S. Inflation Create a Fed Dilemma
The U.S. Federal Reserve since 1977 has been required to follow a dual mandate in which it must simultaneously "promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates." Okay, that probably sounds like three goals instead of two, but who's counting? The problem with achieving any set of two or three goals is that they sometimes conflict with each other. If the Fed wishes to maintain maximum employment then they may have to sacrifice stable prices and/or moderate