Answered: The Fed has an obligation of the "full…

The Fed has an obligation of the "full employment mandate". What is that exactly? How is it connected to the setting of interest rates?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter15: Macroeconomic Viewpoints: New Keynesian, Monetarist, And New Classical

Section: Chapter Questions

Problem 6E

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The Fed has an obligation of the "full employment mandate".

What is that exactly?

How is it connected to the setting of interest rates?

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