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Financial Stability: New Rules for Setting Interest Rates

This bill requires the Federal Reserve to consider inflation, employment, and financial stability when setting interest rates. This means decisions about the cost of borrowing and saving will be made with a broader view of the economy, potentially impacting price stability and job availability for citizens.
Key points
The Federal Reserve must now consider financial stability, inflation, and employment when setting interest rates.
These changes could affect how quickly prices rise, how many people have jobs, and the overall safety of the banking system.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_1664
Sponsor: Rep. Torres, Ritchie [D-NY-15]
Process start date: 2023-03-17
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Financial Stability Mandate Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_1664.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-03-17.

What are the main provisions?

Key points include:

  • The Federal Reserve must now consider financial stability, inflation, and employment when setting interest rates.
  • These changes could affect how quickly prices rise, how many people have jobs, and the overall safety of the banking system.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Torres, Ritchie [D-NY-15].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-24.

CATEGORIES

Economy