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We don't know, of course, how the Fed would have behaved under a single mandate.
But every single mandate of ours is a mandate of peace and equality, of social and national justice.
In particular, he argued that over the last 20 years, the Fed has controlled inflation more successfully than central banks that operated under a single mandate.
Yet a central bank with a single mandate would be all too likely to point to the stability of prices and declare its work done.
Add to this the likelihood that we need some inflation — and more than 2 percent — to avoid persistent liquidity traps, and you can see that a single mandate could well have disastrous effects.
There are times when the dual mandate seems contradictory, but this is not one of them, and it is unlikely the Fed would change course if it had a single mandate.
Similar(45)
Until the recent creation of the Consumer Financial Protection Bureau in 2011, there was no single mandated federal government agency responsible for protecting, much less nurturing, family and consumer livelihoods.
There is no single mandated standard for how the chalice or Chalica display must look.
The election bill approved by Parliament in November established 450 single-mandate electoral districts.
In the single-mandate constituencies, many of the results were contentious.
Regional parties and single-mandate seats that let in independent deputies were scrapped.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com