Reinhart, Carmen M.; Rogoff, Kenneth S. - In: American Economic Review 103 (2013) 3, pp. 48-54
The Federal Reserve's mandate has evolved considerably over the organization's hundred-year history. It was changed from an initial focus in 1913 on financial stability, to fiscal financing in World War II and its aftermath, to a strong anti-inflation focus from the late 1970s, and then back to...