H.R. 245 · 112th Congress
To amend the Federal Reserve Act to remove the mandate on the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to focus on maximum employment.
- Stage
- In committee
- Sponsor
- Mike Pence
- Introduced
- 2011-01-07
- Latest action
- 2012-05-08 · Subcommittee Hearings Held.
Summary
Amends the Federal Reserve Act to repeal the joint mandate on the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to make maximum employment one of the goals of their duty to maintain long run growth of the monetary and credit aggregates commensurate with the U.S. economy's long run potential to increase production.