Who told Bernake it was the Fed's authority to create jobs?

Discussion in 'Politics' started by Revere, Nov 18, 2010.

  1. Revere
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    Revere BANNED

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    Or do anything besides stabilizing the currency and the money supply?

    Does this fucker think he works for Obama, too?

    Bernanke: Fed Program Could Help Create 1 Million Jobs

     
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  2. Toro
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    Toro Diamond Member

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    It's well known.

    FRB: Mission
     
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  3. loosecannon
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    loosecannon Senior Member

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    Toro, from your link:

    This is new, the OP has a real point. The Fed's responsibilities have been in flux since the recession began and overhaul of financial regulations have been underway.

    But previously the Fed had been tasked with maintaining "full employment" at around 5% unemployment as a very tertiary responsibility. One that they had likely never addressed publicly until 2009.
     
  4. WillowTree
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    WillowTree Diamond Member

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    The Feds are supposed to secure the border too, see how well that's working out? Welldoyahuh?


    :eusa_eh:
     
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  5. Toro
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    Toro Diamond Member

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    That is the mandate of the Fed as defined by law. Maximum employment was included in the late 1970s. It hasn't changed since.
     
  6. loosecannon
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    loosecannon Senior Member

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    OK, Toro as of 1946 or 1978 depending on your interpretation of the applicable laws:

    Humphrey?Hawkins Full Employment Act - Wikipedia, the free encyclopedia

    Thanks for the heads up, you appear to be correct.
     
    Last edited: Nov 18, 2010
  7. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Yeah, I thought Carter gave them that mission.

    In any truly free and educated society, the Fed would have been burned to the ground
     
  8. KissMy
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    KissMy Free Breast Exam

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    I am now ok with the Fed doing all it can to stimulate employment & monetize debt. Of course I have a large pile of gold & silver in my safe, 4 houses & 1/4 owner of a 1,000 acre farm. So I say print to your hearts content. Feed the poor & give them health-care, jobs & retirement. Hell I may even start voting Democrat. :puke: oh hell that did not taste right :alcoholic:
     
    Last edited: Nov 18, 2010
  9. The T
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    The T George S. Patton Party Supporting Member

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    With great zeal. The Founders failed to give centralized Banking authority to the Federal Government for a reason...and along comes 1913 and that stupid fuck WOODROW WILSON...that gave the POTUS more power than the POTUS deserves or needs for the good of the Republic.
     
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  10. The T
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    The T George S. Patton Party Supporting Member

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    Tongue-In-Cheek...right?
     

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