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Geithner Opposes Effort to Remove Employment Goal

Treasury Secretary Timothy Geithner says the Obama administration will oppose any effort in Congress to strip the Federal Reserve of its legal mandate to pursue low unemployment.

Treasury Secretary Timothy Geithner
Treasury Secretary Timothy Geithner

Some conservative Republicans have said the central bank should just concentrate on keeping inflation low and abandon its current dual goals of pursuing low inflation and low unemployment.

Geithner, in an interview with Bloomberg Television, said that the Fed's dual mandate has served the country very well over time and the administration would oppose any effort to change it.