Dual Mandate

Screen Shot 2015-07-24 at 10.35As a graduate of the Father Guido Sarducci’s 5-minute University, I was really happy that Larry introduced me to the issue of the Fed’s dual mandate in a way I could understand. Greg Mankiw, a Harvard Professor of Economics, has created a video to explain the thorny problem for our Federal Reserve, initially created to keep our currency stable and control inflation. Now, the additional mandate of keeping unemployment low has been added, and Greg explains this in a delightful country western song. Now I’m up to speed on current economics.