If you asked the majority of Americans what the mandate of the Federal Open Market Committee (FOMC) was, few would know and even less would care. Ask economists, Wall Street analysts, and even the Fed itself, they would likely recite the “dual mandate”: Price stability and maximum employment. Indeed, in virtually every one of his speeches this year Fed chairman …
Read More »The Fed doesn’t have a ‘dual’ mandate—Jerome Powell and Stephen Miran are talking about the third
