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Video

Ask Beth: What is the Dual Mandate?

Topics

Monetary policy

06.26.2026

Main theme

Congress has given the Federal Reserve a dual mandate to promote maximum employment and price stability. Maximum employment refers to the highest level of employment the economy can sustain without generating unwelcome inflation. It describes an economy in which nearly everyone who wants to work has a job. And the second half of the mandate, price stability, means that inflation remains low and stable over the longer run.

Video summary

Cleveland Fed president, Beth Hammack, describes how the Federal Reserve carries out monetary policy – one of its five main functions – in support of its dual mandate goals of maximum employment and price stability. This is one video from her series titled “Ask Beth.”

Ask Beth: What is the Federal Reserve’s role in the Payment System?

Ask Beth: What is the Federal Reserve’s role in the Payment System?

Cleveland Fed president and CEO Beth Hammack explains the Federal Reserve’s role in the payment system in her video shorts series, “Ask Beth.”

Ask Beth: What is Financial Stability?

Ask Beth: What is Financial Stability?

Cleveland Fed president and CEO Beth Hammack explains financial stability in her video shorts series, “Ask Beth.”

Ask Beth: What is the Consumer Protection and Community Development function of the Federal Reserve? Beth Hammack, president and CEO of the Cleveland Fed.

Ask Beth: What is the Consumer Protection and Community Development function of the Federal Reserve?

Cleveland Fed president and CEO Beth Hammack explains one of Fed’s key functions, community development and consumer protection, in her video shorts series, “Ask Beth.”

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President and CEO

Learn about the work of Beth M. Hammack, president and CEO of the Federal Reserve Bank of Cleveland.

The Marriner S. Eccles Federal Reserve Board Building.

The Fed’s dual mandate: The evolution of monetary policy and how it’s communicated

A Cleveland Fed webinar discusses how the Fed’s monetary policy framework has changed over time and how it might evolve further in a review now underway.

The front entrance of the Federal Reserve Bank of Cleveland.

About Us

The Federal Reserve Bank of Cleveland (commonly known as the Cleveland Fed) is part of the Federal Reserve System, the central bank of the United States.