The Federal Reserve; Should it Continue Trying to Create more Jobs? Essay

The Federal Reserve; Should it Continue Trying to Create more Jobs? Essay

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The author uses technical and specialized words such as “monetary policy, dual mandate, single mandate, stimulate economic activity, inflation, budget and policy priorities, etc.” when providing detailed economic related examples and displaying a formal tone for the article. For this reason, the focus on this particular economic financial topic make the article less comprehensible to readers not in the same field as author. The author uses a style and tone for this article lean towards being informative, educational, and occasionally sarcastic entertaining.

Logos

Logos is a rational or logical “appeal in reasoning ability of the audience through use of facts, case studies, statistics, experiment, logical reasoning, analogies, anecdotes, authority voices, etc.” (Course reader pg. 25) The author integrates “use of fact” in the text by providing statistics from the “quantitative easing” (QE) program and “logical reasoning” as a method of persuasion to his readers. An example of logos in the article proves the Fed’s role in managing the monetary policy toward unemployment rate or the “dual mandate.” “The Fed committee eased back on the program, reducing its monthly securities purchases from $85 billion to $75 billion, citing a lower jobless rate.” Although, the Fed is done its duties, “but it cannot force the banks to make loans or fully pass on the more favorable interest rates to consumers.” To support the argument why the central bank should “end the dual mandate”, Katel reveals an important element that the “U.S. companies now hold about $1.48 trillion in cash they aren’t lending out.” All these indicators clearly demonstrate that the Fed effectively manages the “money supply” to financial sector; however, it has no...


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...thority over big banks.” Besides using rhetorical appeals, Katel also combines rhetorical strategies to be more persuasive by using analysis of cause and effect. His illustration describes the sensitivity of “the Fed’s policy shift;” its impacts on the job market as well as a potential risk of triggering inflation. Ethos convinces the readers that the former Fed Chairman, expert’s economists and well-known politician in the industry share author’s arguments.

The missing component of this article is the successful rate of “other European countries” by employing “the single mandate;” and their effectiveness of this mandate toward “job growth” base on economy of scale such as our. Is their central bank has more authority ties to the big banks in term of tracking the use of any stimulus funds.



Works Cited

www.library.cqpress.com.libaccess.sjlibrary.org,

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