To require Board of Governors of the Federal Reserve System to focus on price stability in establishing monetary policy to ensure the stable, long-term purchasing power of the currency, to repeal the Full Employment and Balanced Growth Act of 1978, and for other purposes.
Economic Growth and Price Stability Act of 1995 - Amends the Federal Reserve Act to repeal the mandate of the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to maintain long run growth of monetary and credit aggregates in order to promote maximum employment, stable prices, and moderate long-term interest rates. Replaces such mandate with a mandate to: (1) establish an explicit numerical definition of "price stability"; and (2) maintain a monetary policy that effectively promotes long-term price stability.
Repeals the mandate of the Board and the Committee to report biannually to the Congress on national economic trends, taking into account unemployment, investment and productivity. Replaces such mandate with a mandate to consult semiannually with the Congress and report on their plans and the time required to achieve price stability.
Repeals the Full Employment and Balanced Growth Act of 1978 (Humphrey-Hawkins Act). Amends the Employment Act of 1946 and the Congressional Budget Act of 1974 to reflect the provisions of this Act.
Read twice and referred to the Committee on Banking.
Introduced in House
Introduced in House
Referred to the Committee on Banking and Financial Services, and in addition to the Committees on Economic and Educational Opportunities, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Banking and Financial Services, and in addition to the Committees on Economic and Educational Opportunities, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Banking and Financial Services, and in addition to the Committees on Economic and Educational Opportunities, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Committee on Banking and Financial Services, and in addition to the Committees on Economic and Educational Opportunities, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to the Subcommittee on Domestic and International Monetary Policy.
Referred to the Subcommittee on Workforce Protections.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line