H.R. 6053 (110th): Price Stability Act of 2008

May 14, 2008 (110th Congress, 2007–2009)
Died (Referred to Committee)
Paul Ryan
Representative for Wisconsin's 1st congressional district
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Last Updated
May 14, 2008
9 pages
Related Bills
H.R. 6042 (Related)
Price Stability and Inflation Targeting Act of 2008

Referred to Committee
Last Action: May 13, 2008


This bill was introduced on May 14, 2008, in a previous session of Congress, but was not enacted.

Introduced May 14, 2008
Referred to Committee May 14, 2008
Full Title

To require the Board of Governors of the Federal Reserve System to focus on price stability in establishing monetary policy to ensure the stable, long-term purchasing power of the currency, to repeal the Full Employment and Balanced Growth Act of 1978, and for other purposes.


No summaries available.

5 cosponsors (5R) (show)

House Education and the Workforce

House Financial Services

House Budget

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Primary Source

THOMAS.gov (The Library of Congress)

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H.R. stands for House of Representatives bill.

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

Price Stability Act of 2008 - Declares it is US policy that the principal economic responsibilities of the Government are to establish both long-term economic growth and increases in living standards, maintain free markets, low taxes, respect for private property, and the stable, long-term purchasing power of US currency.
Declares that the promotion of price stability should be the primary long-term goal of the Board of Governors of the Federal Reserve System.
Amends the Federal Reserve Act to revise the mandate of the Board and the Federal Open Market Committee to require them to: (1) establish a numerical definition of the term "price stability"; and (2) maintain a monetary policy that promotes long-term price stability.
Requires the Board to consult with, and report to, Congress semi-annually about Board and Committee objectives and plans to achieve and maintain price stability.
Repeals the Full Employment and Balanced Growth Act of 1978.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

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