FOMC Representation Improvement Act

Bill: 115-hr-4759
Sponsor: full_name: Rep. Williams, Roger [R-TX-25]
Introduced: 2018-01-10
Policy area: Finance and Financial Sector
Subjects: Advisory bodies

Federal Reserve System
Latest action: action_date: 2018-01-10
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2018-01-10
action_desc: Introduced in House
text: <p><b>FOMC Representation Improvement Act </b></p> <p>This bill amends the Federal Reserve Act to revise the membership of the Federal Open Market Committee. </p>

tv_txt: I 115th CONGRESS 2d Session H. R. 4759 IN THE HOUSE OF REPRESENTATIVES January 10, 2018 Mr. Williams introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Federal Reserve Act to revise the membership of Federal Open Market Committee, and for other purposes.

1. Short title This Act may be cited as the FOMC Representation Improvement Act . 2. Membership of Federal Open Market Committee Section 12A(a) of the Federal Reserve Act ( 12 U.S.C. 263(a) ) is amended— (1) in the first sentence, by striking five representatives of the Federal Reserve banks to be selected as hereinafter provided and inserting one representative from each of the Federal Reserve banks ; (2) in the second sentence, by striking and, beginning and all that follows through San Francisco ; and (3) by striking the third and fourth sentences.