Centennial Monetary Commission Act of 2015

Bill: 114-hr-2912
Sponsor: Rep. Brady, Kevin [R-TX-8]
Introduced: 2015-06-25 in the House
Policy area: Finance and Financial Sector
Subjects: Advisory bodies
Congressional oversight
Economic performance and conditions
Federal Reserve System
Government studies and investigations
Inflation and prices
Monetary policy

Summary:
action_date: 2015-06-25
text: 

Centennial Monetary Commission Act of 2015

 
 This bill establishes the Centennial Monetary Commission to: (1) examine how U.S. monetary policy since the creation of the Federal Reserve Board in 1913 has affected the performance of the U.S. economy in terms of output, employment, prices, and financial stability over time; (2) evaluate various operational regimes under which the Board and the Federal Open Market Committee may conduct monetary policy in terms achieving the maximum sustainable level of output and employment and price stability over the long term; and (3) recommend a course for U.S. monetary policy going forward.
 
The Commission shall evaluate as a tool of monetary policy: (1) macro-prudential supervision and regulation, and (2) the lender-of-last-resort function of the Board.

action_date: 2015-11-16
text: 
(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)
 

Centennial Monetary Commission Act of 2015

 
 (Sec. 3) This bill establishes the Centennial Monetary Commission to: (1) examine how U.S. monetary policy since the creation of the Federal Reserve Board in 1913 has affected the performance of the U.S. economy in terms of output, employment, prices, and financial stability over time; (2) evaluate various operational regimes under which the Board and the Federal Open Market Committee may conduct monetary policy in terms achieving the maximum sustainable level of output and employment and price stability over the long term; (3) evaluate the use of macro-prudential supervision and regulation and of the lender-of-last-resort function of the Board as tools of monetary policy in terms of achieving the maximum sustainable level of output and employment and price stability over the long term; and (4) recommend a course for U.S. monetary policy going forward. 
 
The Commission shall submit to Congress and make publicly available, by December 1, 2016, a report containing a statement of its findings and conclusions.
 
(Sec. 8) The Commission shall terminate on June 1, 2017.


Legislative actions:
action_date: 2015-11-16
text: Placed on the Union Calendar, Calendar No. 252.
action_date: 2015-11-16
text: Reported by the Committee on Financial Services. H. Rept. 114-331.
action_date: 2015-11-16
text: Reported by the Committee on Financial Services. H. Rept. 114-331.
action_date: 2015-07-29
text: Ordered to be Reported by the Yeas and Nays: 35 - 22.
action_date: 2015-07-29
text: Committee Consideration and Mark-up Session Held.
action_date: 2015-07-22
text: Hearings Held by the Subcommittee on Monetary Policy and Trade Prior to Referral.
action_date: 2015-06-25
text: Referred to the House Committee on Financial Services.
action_date: 2015-06-25
text: Introduced in House
action_date: 2015-06-25
text: Introduced in House