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The Federal Reserve building in Washington in 2011. (Karen Bleier/Agence France-Presse via Getty Images)


The Dirty Little Secret of Central Banking

The Dirty Little Secret of Central Banking

by | Aug 28, 2016 | Opinion

For more than a third of a century — arguably, since Paul Volcker’s appointment to the Federal Reserve chairmanship in 1979 — the central bank has focused on a single goal: to reduce and stabilize inflation. Legally, it has been required to target full employment,...