In an opinion column in the Wall Street Journal, Federal Reserve Bank of Minneapolis President Neel Kashkari stated, “The Federal Reserve needs to read the labor market correctly to determine how to achieve its dual mandate.”

a. Who gave the Fed a dual mandate? 

b. What does Kashkari mean by “read the labor market correctly”? Why would doing so be important in the Fed’s fulfilling its dual mandate? 

c. Does the Fed’s dual mandate require it to attain a zero percent unemployment rate? Briefly explain.