A resolution concerning revision of the monetary policies of the Board of Governors of the Federal Reserve System.

Expresses the sense of the Senate that: (1) the Board of Governors of the Federal Reserve System should reduce and institute alternative policies to restrain interest rates; (2) Congress should abolish the Federal Open Market Committee and stipulate that the Board make all final decisions concerning the money supply and interest rates; and (3) the Senate Committee on Banking, Housing, and Urban Affairs should study and report on the advisability of seeking other necessary reforms of the Federal Reserve System including implementation of a dual prime rate to improve management of the monetary structure.