tag:blogger.com,1999:blog-7475395270631949054.post1988487212276857707..comments2024-02-15T21:31:06.486-08:00Comments on Capitalism and Freedom: Draghi's Satanic MandateChristopher T. Mahoneyhttp://www.blogger.com/profile/07096275297545797428noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-7475395270631949054.post-21358974785846294032013-09-09T14:21:45.870-07:002013-09-09T14:21:45.870-07:00The desirability of the dual mandate in the U.S. i...The desirability of the dual mandate in the U.S. is debatable. One view is that it has resulted in the Fed implementing monetary policies that mask the harmful effects of imprudent fiscal and regulatory policies.<br /><br />One might argue that, because imprudent fiscal and monetary policies are inevitable, we need the Fed's dual mandate to compensate for them.<br /><br />The counter-argument is that using the Fed to counter the imprudence of administrations and congresses infantilizes democracy. Their policies should stand on their own, not be propped up by compensatory Fed actions. Jackhttps://www.blogger.com/profile/06741875829765039878noreply@blogger.com