To find out all we have to do is ask Bernie Sanders and remember that Obama voted to the left of Sanders while in the Senate. God help us all if Obama ever got to appoint a liberal inflationist Fed Chairman. Oh, and we might remember that when their God, Keynes, was asked about the future consequencs of his ultra easy monetary policies he said, don't worry about the future, we'll all be dead. Bernie Sanders: Another very important issue is with unemployment so high, how can we strengthen the Fed's full-employment mandate[ with inflation] and ensure that it conducts monetary policy to achieve maximum employment? [ through inflation]. In other words the Fed has a number of mandates and one of them is to control inflation. But one of them also is to pursue policies that lead to full employment. Is the Fed doing that in an adequate way? Well I would argue that by definition when you have 16% of people unemployed and underemployed it really is not.