Lol… This is the Fed’s actual dual mandate:
1. Inflate massive asset bubbles.
2. Pop massive asset bubbles.
The first mandate exacerbates income inequality and the second causes mass human misery.
Discussion
Dr Ross,
Any reversal in interest rates you see coming up? They need to step it up and reverse the rates before the next halving!
I’ve always assumed the dual mandate was:
1. Steal people’s labor at a rate they won’t notice.
2. Keep enough people unemployed that it’s a buyer’s market for labor.
Six of one, half-dozen and all that….