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Given the Fed's "dual mandate" from Congress, of maintaining maximum employment and price stability, Bernanke said the central bank saw the need to do something.
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The economic sluggishness has made it ever more challenging for the Fed to meet its two-part legal mandate: maintaining price stability while promoting maximum employment.
Mr. Evans said the Fed funds rate, which has been held near zero since December 2008, should stay there "for some time," because the Fed did not have the usual tension between its two mandates of maintaining price stability while promoting maximum sustainable employment.
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