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Increased Congressional Oversight of Federal Reserve Actions

This act increases Congressional oversight of Federal Reserve programs that impact the economy, such as bond purchases or emergency loans. This means decisions affecting inflation, public debt, and financial stability will be more transparent and require approval from citizens' representatives, potentially influencing price stability and the value of money in people's pockets.
Key points
The Federal Reserve will be required to regularly report to Congress and the public on its programs, including their impact on public debt and potential taxpayer losses.
Federal Reserve programs, such as bond purchases, cannot last longer than one year without Congressional approval, increasing control over their long-term economic impact.
The act aims to prevent emergency programs from becoming a permanent part of the Federal Reserve's operations, protecting against excessive debt and inflation.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_1646
Sponsor: Sen. Scott, Rick [R-FL]
Process start date: 2025-05-07
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Rein in the Federal Reserve Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_1646.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-05-07.

What are the main provisions?

Key points include:

  • The Federal Reserve will be required to regularly report to Congress and the public on its programs, including their impact on public debt and potential taxpayer losses.
  • Federal Reserve programs, such as bond purchases, cannot last longer than one year without Congressional approval, increasing control over their long-term economic impact.
  • The act aims to prevent emergency programs from becoming a permanent part of the Federal Reserve's operations, protecting against excessive debt and inflation.
What is the specific legal status?

The current status is Introduced.

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 Sen. Scott, Rick [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy