Powell defines the Fed's third mission, stating that it is a derivation of the other two tasks.

On September 18, Fed Chairman Powell answered questions regarding the central bank's achievement of the legal requirement of "moderate long-term interest rates" during a press conference following the interest rate decision. He explained why the three missions granted to the Fed by Congress can, in practice, be reduced to two main tasks. For a long time, central bank officials have positioned their mission as a dual mandate, focusing on maintaining low and stable inflation and ensuring a strong employment market, while the third task has been less emphasized. Powell told reporters that the third task exists, but from the perspective of central bank officials, it is a derivation of the two more widely known legal objectives. He said, "We believe that moderate long-term interest rates are the result of achieving low and stable inflation and maximum employment." For some time, Fed officials have not considered the third task necessary to "take independent action." ( Jin10 )