Increased Transparency for Federal Reserve Spending and Research
This new law requires the Federal Reserve to report detailed annual expenditures and employee numbers across various functions, such as financial supervision and economic research. This will give citizens better insight into how public funds are spent and what this important financial institution focuses on.
Key points
The Federal Reserve must disclose annual expenditures and full-time equivalent employees for each of its functions, including bank supervision, payment operations, and research.
Reports will include information on the top three research areas for the Federal Reserve Board and individual Reserve Banks.
The act also requires disclosure of annual expenditures on new rules and guidelines, increasing transparency in the regulatory process.
Introduced
Citizen Poll