Interesting that Martin Wolf notes today:
The Fed, added the chairman, has a dual mandate, to foster maximum employment and price stability. Doing nothing would be incompatible with this obligation.
A commentator claimed here the other day that there was no obligation in the USA to create employment.It looks like some strongly disagrees, that he is in a position to do something about it.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Buy me a coffee!
Absolutely.
I think giving the Bank of England a similar mandate to promote full employment – whilst having reasonable regard for price inflation – would be a big step forward.
@Howard
the impact would be enormous, radical and wholly beneficial!
@Richard Murphy
Who to ?
If wholly beneficial it would benefit everyone and disadvantage nobody.
Somehow I doubt that an organisation slightly right of the extreme right would adopt something like that.