Bank presidents have embarrassingly embraced the impossible dual mandate—'running around embracing this dual mandate like little schoolgirls'—instead of telling Congress they cannot achieve it and asking to be given an achievable goal such as price stability, and they do so to keep their jobs.

normativepending

Speaker

Michael Belongia

Evidence Quote

running around embracing this dual mandate like little schoolgirls

Source

Michael Belongia on the Fed 01/11/2010EconTalk
Created: 6/15/2026, 9:37:51 AM

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