End the Dual Mandate at the Fed

Floor Speech

Mr. PENCE. Mr. Speaker, jobs should be job one in this Congress and the next. Full employment must be the objective of policymakers in Washington, D.C.

But after years of runaway spending, borrowing and stimulus, it's clear--and the American people know it--we can't borrow and spend and bail our way back to a growing economy.

Unfortunately, judging from the latest round of quantitative easing, known as QE2, the Federal Reserve hasn't gotten the message. Printing money is no substitute for sound fiscal policy.

This week I introduced legislation to end the dual mandate of the Fed. It is time, once again, to demand that the Federal Reserve focus exclusively on price stability and protecting the dollar; and it's also time to demand that policymakers here in Washington, D.C. embrace the kind of reforms that will promote real growth, tax reform, tax relief, fiscal discipline, regulatory reform and trade. We can't print money as a pathway to prosperity.

I urge my colleagues to join me in ending the dual mandate of the Fed, and let's get back to growing this economy on principles and policies that work.

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