A column in the Wall Street Journal referred to policy actions aimed at “fulfilling both sides of the Fed’s dual mandate.” a. Who gave the Fed a dual mandate? b. Does the Fed’s dual mandate require it...

A column in the Wall Street Journal referred to policy

actions aimed at “fulfilling both sides of the Fed’s dual

mandate.”

a. Who gave the Fed a dual mandate?

b. Does the Fed’s dual mandate require it to attain a zero

percent unemployment rate? Briefly explain.

c. Does the Fed’s dual mandate require it to attain a zero

percent inflation rate? Briefly explain.

Source: Steven Russolillo, “The Key to a More Hawkish Fed,”

Wall Street Journal, December 14, 2016.