• Share
  • Read Later
HUMBUG, JOBLESS: But newly-empowered Republicans praised Greenspan and hinted that they may give him what he has long desired: the freedom to pursue monetary policies without particular concern for full-employment policies. Currently, the Fed's directive -- in force since 1978 -- requires the central bank to pursue the aim of maximum employment, stable prices and moderate, long-term interest rates. But Sen. Connie Mack (R-Fla.), future chairman of the Joint Economic Committee, said today that he would "seek to remove all aspects of employment and economic control from the Fed's mandates." The Economic Strategy Institute, a liberal think tank, called the proposal a serious mistake.Post your opinion on theWashingtonbulletin board.