Feb
28

Fed’s 3 Mandates: Price Stability, Jobs and … Wall Street?

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Suppose a visitor from the future comes and tells you these facts about the financial markets in the year 2030: The stock market has fallen sharply, as have the price of oil and investors’ expectations for interest rate increases over the next couple of years.

You would probably assume that the economy was heading down the tubes and in real trouble, quite possibly moving toward a recession.

A different visitor from the future arrives and tells you of this state of the world in 2035: The jobless rate is below 5 percent, and employers are hiring at a rapid clip and giving workers their biggest raises in years. Service industries that account for a large percentage of the economy are growing nicely, and consumers are spending money at a steady pace. Everything is just fine…

Fed’s 3 Mandates: Price Stability, Jobs and … Wall Street?

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