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Price Stability Act: Federal Reserve's Mandate Shift

This act changes the Federal Reserve's objectives by removing the pursuit of maximum employment. This means the Federal Reserve will focus solely on maintaining stable prices, which could impact monetary policy and indirectly affect the job market and purchasing power in citizens' daily lives.
Key points
The Federal Reserve will have only one goal: price stability, without considering maximum employment.
This change may influence decisions on interest rates and credit availability, potentially impacting citizens' savings and investments.
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Expired
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Additional Information
Print number: 118_HR_6117
Sponsor: Rep. Hill, J. French [R-AR-2]
Process start date: 2023-10-30
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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

Price Stability Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_6117.

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 2023-10-30.

What are the main provisions?

Key points include:

  • The Federal Reserve will have only one goal: price stability, without considering maximum employment.
  • This change may influence decisions on interest rates and credit availability, potentially impacting citizens' savings and investments.
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. Hill, J. French [R-AR-2].

What is the latest detailed status?

The latest detailed status is: Sponsor introductory remarks on measure. (CR H5726-5727)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy