Money Supply Control Act

Money Supply Control Act - Amends the Federal Reserve Act to require that the time, character, and volume of all purchases and sales of paper described by such Act as eligible for open-market operations be governed with a view to maintaining a constant general level of domestic prices and avoiding destabilizing changes in total purchasing power and employment. Requires that such purchases foster 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 at a specified percentage rate for 1982 through 1987 and each subsequent year.