What the Fed and Madonna have in common
CNN
Since its founding in 1913, the US Federal Reserve has fought to achieve three goals: maximum employment, stable prices and moderate long-term interest rates. But that's about all that's remained consistent in the central bank's 109-year legacy of monetary policy.
Economists at the Fed work hard to maintain the institution's reputation as a stoic pillar of economic wisdom — unperturbed by politics or the whims of the day, all-knowing and, most importantly, effective. This image obsession serves an important purpose: The central bank's dependability hinges on Americans believing that it's ... dependable.
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