[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1664 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 1664

To require the Board of Governors of the Federal Reserve System and the 
 Federal Open Market Committee to consider inflation, employment, and 
            financial stability when setting interest rates.


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                    IN THE HOUSE OF REPRESENTATIVES

                             March 17, 2023

    Mr. Torres of New York introduced the following bill; which was 
            referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
To require the Board of Governors of the Federal Reserve System and the 
 Federal Open Market Committee to consider inflation, employment, and 
            financial stability when setting interest rates.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Financial Stability Mandate Act''.

SEC. 2. INTEREST RATE CONSIDERATIONS.

    Section 2A of the Federal Reserve Act is amended--
            (1) by striking ``The Board of Governors of the Federal 
        Reserve System and the Federal Open Market Committee shall'' 
        and inserting the following:
    ``(a) In General.--The Board of Governors of the Federal Reserve 
System and the Federal Open Market Committee shall''; and
            (2) by adding at the end the following:
    ``(b) Considerations.--The Board of Governors of the Federal 
Reserve System and the Federal Open Market Committee shall, when 
setting interest rates, consider inflation, employment, and financial 
stability.''.
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