The FED was signed into law by the socialist Wilson and his majority Dems, just like DeathCare. The socialists have given us many programs, all of them socialistic.
As to the mandate of full employment, you have got to be kidding?
Since when does the FED have the power to create jobs ever?
Tell that one to the poor decent souls who have to work two jobs now, or just got out of college and can’t FIND a job.
what a bunch of academic baloney. what a load. And it stinks.
And the FED is NOT Constitutional.
Welfarism is not socialism. What do you think socialism is?
The Humphery-Hawkins Act charges the Fed with working for full employment. I never claimed it was a good idea or that it achieved this goal. Your hypothetical "college student" and his problems have nothing to do with the facts. We all had to get a job when we got out of college Fed or no Fed. Hamilton destroyed the argument about 220 yrs. ago that a National Bank was unconstitutional. You should read it sometime if you want to see brilliance at work. He made Jefferson's argument look like the work of an idiot as he did virtually every time they were in conflict. Then that "socialist" George Washington signed the law creating the Bank.