While conservatives argue that the Fed should keep its eye on inflation, some question who, then, would mind employment under a single mandate. With deep partisan divides on Capitol Hill, says Joel Naroff, president of Pennsylvania-based Naroff Economic Advisors, there may be no one left to take action on economic growth.
"Washington in the past couple of years hasn't done a thing," he says. "Do you really want to leave the economy up to politicians who can't even talk to each other?"
Danielle Kurtzleben is a business and economics reporter for U.S. News & World Report. Connect with her on Twitter at @titonka or via E-mail at firstname.lastname@example.org.