The other part of the dual mandate, which the Fed says "stands on equal footing with price stability" and maximum employment. We'll get the most recent employment data later this week. The last reading of the unemployment rate was 4.2%. What's considered maximum employment? It turns out, a Fed Governor (Mr.Kugler) gave a speech of "Assessing Maximum Employment" last month. What was her assessment? For the current situation, she said maximum employment is "in the vicinity of 4.2%."
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