A+Resolution+to+Reform+the+Federal+Reserve

A Resolution to Reform the Federal Reserve The Federal Reserve’s use of quantitative easing (increasing the money supply to keep the value of the dollar low) has been sporadic, arbitrary, and largely ineffective, Aggressive monetary policy focusing solely on artificially low interest rates has proven counterintuitive to fixing the economy and escaping the Liquidity Trap the United States’ Economy currently finds themselves in, The Federal Reserve needs clearer monetary rule in order to right the ship, which necessitates modernizing the Federal Reserve’s mission, 10 Therefore be it Resolved: That the United States Government reforms the 11 Federal Reserve’s dual mandate by excluding its focus on 12 unemployment (through interest rates, bond buying, and quantitative 13 easing) and solely directing it towards a single mandate of inflation 14 control, and 15 Be it Further Resolved: That the US Federal Reserve pursues long term price 16 stability and growth in the value of the dollar as well as in the Nominal 17 Gross Domestic Product (NGDP). Respectfully submitted, Saint Joseph’s Preparatory School

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