FFOCUS Act of 2013

Bill: 113-hr-492
Sponsor: full_name: Rep. Stutzman, Marlin A. [R-IN-3]
Introduced: 2013-02-04
Policy area: Economics and Public Finance
Subjects: Inflation and prices

Monetary policy

Unemployment
Latest action: action_date: 2013-02-04
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2013-02-04
action_desc: Introduced in House
text: <p>Focusing the Fed on the Currency of the United States Act of 2013, or FFOCUS Act of 2013 - Amends the Federal Reserve Act to repeal the joint mandate on the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to make maximum employment one of the goals of their duty to maintain long run growth of the monetary and credit aggregates commensurate with the U.S. economy's long run potential to increase production.</p>

tv_txt: I 113th CONGRESS 1st Session H. R. 492 IN THE HOUSE OF REPRESENTATIVES February 4, 2013 Mr. Stutzman (for himself, Mr. Mulvaney , Mr. McClintock , Mr. Westmoreland , Mr. Thornberry , Mr. Nugent , Mr. Woodall , Mr. Pearce , and Mr. Young of Indiana ) introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Federal Reserve Act to remove the mandate on the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to focus on maximum employment.

1. Short title This Act may be cited as the Focusing the Fed on the Currency of the United States Act of 2013 or the FFOCUS Act of 2013 . 2. Removal of dual mandate Section 2A of the Federal Reserve Act ( 12 U.S.C. 225a ) is amended by striking maximum employment, stable prices, and inserting stable prices .