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Olson: The FOMC & the formation of monetary policy

In a speech on 'The Federal Open Market Committee and the Formation of Monetary Policy' given on 5 May, Mark Olson of the Federal Reserve said multiple policy objectives of maximum employment, price stability and moderate long-term interest rates make sense.

"Happily, in this instance, congressional intent is also sound monetary policy," Olson said in a speech to the American Council on Gift Annuities in Orlando, Florida.

While some observers have criticized the Fed's goals as being mutually

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