After the SCOTUS decision regarding Chevron’s deference, I am investigating this matter. Here is a summary of academic research on the Supreme Court’s views on these topics, which differ from whether fiat money as established in the United States is unconstitutional (eg, see here). I also defer to the discussion of whether the Federal Reserve is legitimate.
- On price stability: [null set]
- When working full-time: [null set]
However, we can conclude from recent experience that the members of the SCOTUS as currently assembled will carefully determine the appropriate definitions of price stability and full employment, as expressed by Justice Gorsuch’s deep understanding of the financial regulatory framework in commenting on the role of “Security and full employment.” Exchange Commission”, and the environmental impacts of pollution, including “nitrous oxide” [Forbes].
As Justice Gorsuch has declared himself (as have others) to be the authors of the document, it suggests to me that if he were to be internally consistent in his rulings, he would ensure price stability and full employment which require:
at all times, there p maybe CPI, too u unemployment rate. The current unemployment rate is 4.0%. It should not be too difficult for the Supreme Court to decide how to find it u=0 and the first derivative of p is equal to 0 simultaneously.
For more discussion of Justice Gorsuch’s views on how much deference should be given to administrative agencies, see here.
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