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The Fed has a dual mandate to stabilize prices and maximize employment. Plot both over recent years using the unemployment rate (U-3) to measure employment and the annual percentage change in Personal Consumption Expenditures: Chain-type Price Index to measure inflation. Note that the PCE Price Index is not the same as PCE. PCE is the amount consumers purchase. PCE Price Index is the price level of the stuff consumers purchase. Also, the PCE Price Index needs to be turned into an inflation rate.https://fred.stlouisfed.org/WORK AN EXCEL WITH THIS INFO LIKE THE LAST ONE.
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