Democrats want Fed's dual mandate left alone

03/7/2012 | Nasdaq.com

All 27 Democrats on the House Financial Services Committee have requested a hearing on a proposal to eliminate the Federal Reserve's employment focus. Rep. Kevin Brady, R-Texas, is expected to introduce a bill this week to change the Fed's focus to only price stability. The Fed's dual mandate has "been helpful in dealing with our unemployment problem," lawmakers wrote in the letter to Rep. Spencer Bachus, R-Ala., the committee's chairman.

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