[snuxoll]

> and the Fed has no mandate to prop up stocks.

Not true in the least anymore - retirement savings for a large percentage of our population are tied up in stocks thanks to the death of the pension. Asset and securities prices as a whole are a large concern for the fed when changing policy, as a result.

[chalst]

The Fed has a dual mandate: price stability and maximal sustainable employment. Nothing about supporting the value of investments.

https://www.chicagofed.org/research/dual-mandate/dual-mandat...

[thow-58d4e8b]

FED actually has three mandates, one of them almost never mentioned:

* employment

* price level

* moderate long term interest rates

[chalst]

The requirement to pursue moderate long-term interest rates is usually seen as part of price stability, since the level of long-term interest rates is determined by inflation expectations.

Cf. https://www.federalreserve.gov/faqs/what-economic-goals-does...