The Council’s global focus is particularly important for understanding the challenges facing the U.S. economy today, as shown by last week’s referendum on the United Kingdom’s status in the European Union. In my remarks, I will review recent economic developments and the outlook for the economy. I will also discuss the economy’s longer-term productive potential.
As always, the view I express here today are my own. The dual mandate and state of the economy As you know, the Federal Reserve, through the Federal Open Market Committee (FOMC), is charged by the Congress with achieving maximum employment and stable prices – the dual mandate.