Fed Open to Raising Rates….

Fed Open to Raising Rates….

Fed Chief Ben Bernanke recently stated that the Fed might raise rates to cut off future financial asset bubbles, but mounted a defense against critics who claim that the Fed’s failure to do so led to the most recent financial asset bubble.

Fed Open to Raising Rates

I think this belies the dichotomy present in the mandate put to the Fed by Congress. Per the Humphrey-Hawkins Full Employment Act, the Fed is to pursue actions which promote….full employment, with low inflation and economic growth.
That seems like a recipe for financial asset bubbles.
While the Congress debates auditing the Federal Reserve, perhaps it should reconsider the mandate it has placed on the Fed.
Fed Open to Raising Rates

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