The Eurosystem’s primary objective is to maintain price stability in the euro area. And the Fed has a similarly domestic mandate which also includes employment. Of course, one could discuss specific monetary policy measures in terms of their effectiveness and side-effects, but that is a different story.
3  See minutes of the FOMC meeting of September 29, 1998. 2  BIS Review 37/2003  *** In implementing a risk-management approach to policy, we must confront the fact that only a limited number of risks can be quantified with any confidence. And even these risks are generally quantifiable only if we accept the assumption that the future will replicate the past.