Lessons Learned from 200 Years of Booms and Busts in the U.S. Economy
Leading Blog
NOVEMBER 17, 2021
economy occurred after the War of 1812 when inflated prices created an unstainable boom. Congress expanded the Federal Reserve’s responsibilities in 1946, directing it to promote maximum employment, production, and purchasing power. And in 1978, Congress added price stability and promotion of long-term growth to its mandate.
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