A bill to amend the Federal Reserve Act to reaffirm the importance of workers.
Respect for Workers Act
This bill requires at least one member of the Board of Governors of the Federal Reserve System to have experience supporting or protecting the rights of workers. This member is in charge of developing policy recommendations regarding the board's goal of maximum employment. (The board is made up of seven members that are nominated by the President and confirmed by the Senate. Members serve 14-year terms, with one term beginning every two years.)
The bill also requires the board to discuss in their semiannual report the distributional effect of monetary policy.
Referred to the House Committee on Financial Services.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S459)
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line