Summary

To amend the Federal Reserve Act to improve the functioning and transparency of the Board of Governors of the Federal Reserve System and the Federal Open Market Committee,... Read More

Status

This bill was introduced on Mar 8, 2012, in a previous session of Congress, but was not passed.

Date Introduced
Mar 8, 2012

Co-Sponsors

r-49

Bill Text

A BILL

To amend the Federal Reserve Act to improve the functioning and transparency of the Board of Governors of the Federal Reserve System and the Federal Open Market Committee, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title.--This Act may be cited as the ``Sound Dollar Act of 2012''. (b) Table of Contents.--The table of contents for this Act is as follows:

Sec. 1. Short title; table of contents. TITLE I--SINGLE MANDATE FOR PRICE STABILITY ACT

Sec. 101. Findings. Sec. 102. Price stability mandate. TITLE II--FINANCIAL STABILITY AND MORAL HAZARD MITIGATION ACT

Sec. 201. Findings. Sec. 202. Lender-of-last-resort policy. TITLE III--DIVERSIFYING THE FEDERAL OPEN MARKET COMMITTEE TO REFLECT A 21ST CENTURY ECONOMY ACT

Sec. 301. Findings. Sec. 302. Federal Open Market Committee membership. TITLE IV--DEMYSTIFICATION OF MONETARY POLICY DECISIONS ACT

Sec. 401. Findings. Sec. 402. Release of transcripts. TITLE V--EXCHANGE RATE RESPONSIBILITY ACT

Sec. 501. Findings. Sec. 502. Report on the effect of exchange rate policy. Sec. 503. Renaming of Exchange Stabilization Fund. Sec. 504. Conversion to all-SDR Fund. TITLE VI--CREDIT ALLOCATION NEUTRALITY ACT

Sec. 601. Findings. Sec. 602. Limitation on certain non-emergency security purchases. TITLE VII--BUREAU OF CONSUMER FINANCIAL PROTECTION FUNDING ACT

Sec. 701. Findings. Sec. 702. Bureau of Consumer Financial Protection Funding.

TITLE I--SINGLE MANDATE FOR PRICE STABILITY ACT

SEC. 101. FINDINGS.

The Congress finds the following: (1) Monetary policy can only affect the level of employment in the short term because...

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Bill Summary

To amend the Federal Reserve Act to improve the functioning and transparency of the Board of Governors of the Federal Reserve System and the Federal Open Market Committee, and for other purposes.

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54.166.122.65