To strengthen the political responsibility and accountability of the Federal Reserve System.
Federal Reserve System Accountability Act of 1989 - Amends the Federal Reserve Act to expand: (1) from nine to 12 the number of Directors on the Federal Reserve Bank Boards; and (2) from three to six the number Class C Directors on such Bank Boards. Staggers the terms of newly expanded Class C memberships.
Requires that members of Class C Directors include representatives from: (1) agricultural interests; (2) small business interests; (3) labor; and (4) consumer interests.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Domestic Monetary Policy.
Subcommittee Hearings Held.
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