Powell defines the Fed's third mission, saying it is a derivative of the other two.
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最新报道：According to a report from Bijie.com, Federal Reserve Chairman Powell, in response to a question about the central bank's statutory requirement to achieve "moderate long-term interest rates" at a press conference following the interest rate decision on Wednesday, explained why the three mandates given to the Fed by Congress can actually be reduced to two major tasks. Central bank officials have long positioned their mission as a dual mandate, focusing monetary policy on keeping inflation low and stable and ensuring a continued strong job market, with little emphasis on the third mandate. Powell told reporters that the third mandate is real, but in the eyes of central bankers, it is a derivative of the two more well-known goals stipulated by law. He said: "We believe that moderate long-term interest rates are the result of achieving low and stable inflation and maximum employment." For some time, Federal Reserve officials did not believe that the third mandate required "independent action."
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