A concurrent resolution expressing the sense of the Congress that the President, the Board of Governors of the Federal Reserve System, and the Congress must coordinate fiscal and monetary policy to insure that economic recovery and stable economic growth are not hindered by excessively restrictive monetary policy and high interest rates.

Expresses the sense of the Congress that: (1) the President and the Congress must work together to reduce substantially the budget deficits projected for fiscal year 1983 and following years; (2) the President and the Board of Governors of the Federal Reserve System must take action to assure that interest rates remain at a level commensurate with a vigorous and stable economic recovery; and (3) the goal of monetary policy must be to stabilize interest rates at a level close to the historical average relationship between nominal interest rates and the rate of inflation.