Date of Award

2017

Document Type

Restricted Thesis

Degree Name

Bachelor of Arts

Department

Economics

First Advisor

Qi Ge

Abstract

Price stability and full employment are the two objectives of the Dual Mandate that the United States Federal Reserve do their best to achieve and maintain. The Dual Mandate objectives were put in place in 1977 and it has been the main goal of the Federal Reserve since. Through out time changes occur in the economy that result in changes in inflation and unemployment, which are the two variables that are usually used as a way to tell if the Dual Mandate has been achieved or not. These changes can result in policies changes and changes in the way the Dual Mandate should be achieved. My findings indicate that the Federal Reserve focused on controlling inflation, then were worried about deflation which resulted in the Federal Funds rate eventually being lowered to almost zero. Unemployment in the future can be seen as more important than it has been in the past because in the past inflation was considered more important.

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