"Part of what is needed, and what we’re wrestling with, is rethinking exactly what our mandate means,” Atlanta Fed President Raphael Bosticearlier this summer. “The important thing about our mandate is that, to me, it says we should be making sure the economy works for everyone, because that’s the way you get to the largest maximum employment. That’s the way you get to the strongest, most resilient economy.
Now, six months into the crisis, it isn’t entirely clear what comes next. At this week’s meeting, the Fed isn’t expected to change rates. Powell has said that the Fed isn’t “even thinking about thinking about raising rates," and the emergency programs are staying in place. But the economy remains in trouble. Just over half of the 22 million total jobs lost between February and April have not returned. Hopes are“The rest of us have to come to the realization that fiscal response is absolutely necessary,” said William Spriggs, chief economist to the AFL-CIO and an economics professor at Howard University. “You cannot borrow your way to rich. And that’s the Fed’s function.
Never trust a man who can't wear his mask correctly. It's really not that difficult!
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