If I understand this correctly, this would get rid of the dual mandate?
Sort of. It subordinates the employment mandate to the inflation mandate. The first mandate would not be repealed but the latter would be given express priority.
Well frankly I'd argue we've reached there already with the markets pricing in a recession and the Fed showing few signs of slowing their tightening despite poor forward looking indicators. It's the so-called "recession we have to have." So really this legislation is just expressing what is basically already true.
