Of course, the usual caveat to my remarks applies: I will express my own views, and you should not interpret them as the position of the Federal Open Market Committee or of the Board of Governors.
Assessing the Federal Reserve’s performance after 1979 When assessing what constitutes good monetary policy practice, I prefer to focus not on theory but on the reality of the Federal Reserve’s objectives. In contrast to many other central banks, the Federal Reserve has been assigned a “dual mandate” - to pursue policies that both maintain price stability and achieve maximum sustainable economic growth and employment.