Vosh: The two aspects of the Federal Reserve’s dual mandate do not conflict

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Golden Finance reported that on July 14, Federal Reserve Chair Wush explained his views on the economy. Wush said the economy was in good shape, and financial markets also appeared to be operating well, but the real estate market was uneven. Part of the reason, he said, was that the inflation rate had been consistently above the level targeted by the Federal Reserve. He said the Federal Reserve can ease this issue by maintaining price stability. When discussing areas such as artificial intelligence, Wush said, “We are not afraid of growth driven by improvements in productivity.” Wush noted, “The labor market has shown remarkable resilience.” He said the Federal Reserve would pay attention to both major goals: price stability and full employment. He said these two missions do not conflict— the better the Federal Reserve does in controlling inflation, the more willing employers will be to hire employees. “We still have work to do on the inflation issue,” he said.
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