Money Supply Control Act of 1979

Money Supply Control Act of 1979 - Amends the Federal Reserve Act to require that the time, character, and volume of all purchases and sales of paper eligible for open-market operations be governed with a view to: (1) maintaining a constant general level of domestic prices; (2) avoiding destabilizing changes in total purchasing power; and (3) fostering a steady growth in the aggregate currency in circulation plus all deposit balances at commercial banks less the demand deposits of foreign commercial banks and official institutions.