> The chair's main responsibility is to carry out the mandate of the Fed, which is to promote the goals of maximum employment, stable prices, and moderate long-term interest rates
You’re correctly quoting your source. But this is crap, as their source [1] makes no reference to “moderate long-term interest rates”.
The Fed is mandated to promote “maximum employment” and “stable prices” [2]. (It defines the former as “the highest level of employment or lowest level of unemployment that the economy can sustain while maintaining a stable inflation rate.”) If inflation is unstable, the economy is above maximum employment.
You’re correctly quoting your source. But this is crap, as their source [1] makes no reference to “moderate long-term interest rates”.
The Fed is mandated to promote “maximum employment” and “stable prices” [2]. (It defines the former as “the highest level of employment or lowest level of unemployment that the economy can sustain while maintaining a stable inflation rate.”) If inflation is unstable, the economy is above maximum employment.
[1] https://www.federalreserve.gov/paymentsystems/coin_about.htm
[2] https://www.federalreserve.gov/aboutthefed/fedexplained/mone...