FFOCUS Act of 2015

Bill: 114-hr-1154
Sponsor: full_name: Rep. Stutzman, Marlin A. [R-IN-3]
Introduced: 2015-02-27
Policy area: Economics and Public Finance
Subjects: Inflation and prices

Monetary policy

Unemployment
Latest action: action_date: 2015-02-27
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2015-02-27
action_desc: Introduced in House
text: <p><b>Focusing the Fed on the Currency of the United States Act of 2015 or the FFOCUS Act of 2015</b></p> <p> 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 114th CONGRESS 1st Session H. R. 1154 IN THE HOUSE OF REPRESENTATIVES February 27, 2015 Mr. Stutzman (for himself, Mr. Mulvaney , Mr. McClintock , Mr. Jones , and Mr. Westmoreland ) 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 2015 or the FFOCUS Act of 2015 . 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 .