[Congressional Record (Bound Edition), Volume 156 (2010), Part 12]
[House]
[Pages 17766-17767]
[From the U.S. Government Publishing Office, www.gpo.gov]




                    END THE DUAL MANDATE AT THE FED

  (Mr. PENCE asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  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.

[[Page 17767]]

  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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