Skip to main content

Institutional Investor | The Federal Reserve’s Dual-Mandate Dilemma

By December 18, 2014August 10th, 2017In the News

By James Dondero and Mark Okada

The shadow of the Great Depression was fresh in the minds of the U.S. public when World War II drew to a close in 1945. Millions of soldiers were returning home to an uncertain economic transition, and terminated wartime production and unemployment concerns dominated public discourse. Congress accordingly passed the Employment Act of 1946, which sought to address unemployment and price stability by affirming that “it is the continuing policy and responsibility of the federal government to use all practical means to promote maximum employment, production and purchasing power.” This was the birth of the dual mandate….

Full Story – The Federal Reserve’s Dual-Mandate Dilemma