The Fed puts price stability along with maximum employment as its primary goals. This is known as a ________.

Question

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The Fed's dual mandate means that it aims to achieve both price stability (i.e. low inflation) and maximum employment. This is different from a singular mandate, which would focus on just one of these goals, and an ubiquitous mandate, which is not a recognized term in economics. A hierarchical mandate implies a ranking of priorities, which does not accurately reflect the Fed's approach.

The Fed Puts Price Stability Along with Maximum Employment as Its