When inflation runs above target and the labor market remains strong, the Federal Reserve's dual mandate of price stability and maximum employment comes into tension. On the latest episode of Economics, Applied, Federal Reserve Bank of San Francisco President Mary C. Daly reflects on how these trade-offs complicate communication with the public. Tune in to the full discussion with Hoover Institution Senior Fellow Steven J. Davis here: https://youtu.be/pKHJyt0ix04 | Hoover Institution