Sen. Bob Corker (R., Tenn.) called Tuesday for a narrowing of the Federal Reserve’s focus to price stability, the latest attempt by a Republican to alter the central bank’s mandate.
A day after holding a long meeting with Fed Chairman Ben Bernanke, Corker said the central bank’s “overly broad dual mandate” should be changed so that full employment will no longer be its responsibility.
“The Federal Reserve is not seeking a change to its statutory mandate. The dual mandate is appropriate,” said Michelle Smith, spokeswoman at the Fed.
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