U.S. House Committee Advances Bill to Refocus Federal Reserve Solely on Price Stability

According to Jin10 data on May 13, the House Financial Services Committee is reviewing a bill that would modify the Federal Reserve Act by removing the Fed's dual mandate of maximizing employment and price stability, replacing it with a single focus on price stability. The proposed legislation would revise Section 2A of the Federal Reserve Act (12 U.S.C. 225a) to delete "maximum employment, stable prices" and insert "stable prices."
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