The Fed's Dual Mandate Responsibilities and Challenges Facing U.S. Monetary Policy - Federal Reserve Bank of ChicagoThe Fed's Dual Mandate Responsibilities and Challenges Facing U.S. Monetary Policy In the summer of 2009, the U.S. economy began to emerge from its deepest recession since the 1930s. But today, two years later, conditions still aren’t much different from an economy actually in recession. GDP growth was barely positive in the first half of the year. The unemployment rate is 9.1%, much higher than a
