The Federal Reserve’s Role

In his December 7 speech, Ben Bernanke made the following comments with regard to the role of The Federal Reserve.  For now, I will post an excerpt I found notable, and may comment upon it at a later date:

“In all of these efforts, our objective has not been to support specific financial institutions or markets for their own sake. Rather, recognizing that a healthy economy requires well-functioning financial markets, we have moved always with the single aim of promoting economic recovery and economic opportunity. In that respect, our means and goals have been fully consistent with the traditional functions of a central bank and with the mandate given to the Federal Reserve by the Congress to promote price stability and maximum employment.”


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