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Explanation & Answer
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Surname: 1
Student’s Name
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Part one:
Congress established the Federal Reserve Mandate to reach 3 principle objective of:(1)
Maximum employment
(2)
Stable prices
(3)
Reasonable long-term interest rates
FOMC (Federal Open Market Committee)-s objective is to foster maximum
employment, moderate long-term interest rates and price stability. Both Price stability
and Maximum employment are referred to as Federal Reserve’s dual Mandate.
Other objectives included:
1) Addressing the banking panics problem
2) To play the role of the central bank of the U.S
3) To strike some balance between bank’s private interests and the government’s centralized
responsibility
4) Overseeing and regulating banking institutions
5) protecting consume...