A bill to repeal the Federal Reserve Act and transfer the function formerly carried out under the Act to the Department of Treasury.
Monetary Policy Reorganization Act - Repeals the Federal Reserve Act. Transfers the functions carried out under such Act to the Department of the Treasury. Establishes a Deputy Secretary for Monetary Affairs to administer those functions.
Requires the Deputy Secretary, within 180 days after enactment of this Act, to dispose of all the assets under the control of the Federal Reserve System, except for those assets needed for check clearing or other services provided directly to U.S. financial institutions or to carry out U.S. monetary policy.
Creates a Monetary Policy Advisory Council to advise the Deputy Secretary on monetary policy.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Domestic Monetary Policy.
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line