S. 215: Federal Reserve Single Mandate Act of 2013

Introduced:
Feb 04, 2013
Status:
Referred to Committee
Prognosis
0% chance of being enacted
Track this bill
Sponsor
Bob Corker
Junior Senator from Tennessee
Party
Republican
Text
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Last Updated
Feb 04, 2013
Length
2 pages
 
Status

This bill was assigned to a congressional committee on February 4, 2013, which will consider it before possibly sending it on to the House or Senate as a whole.

Progress
Introduced Feb 04, 2013
Referred to Committee Feb 04, 2013
Reported by Committee ...
Passed Senate ...
Passed House ...
Signed by the President ...
Prognosis

1% chance of getting past committee.
0% chance of being enacted.

Only 11% of bills made it past committee and only about 3% were enacted in 2011–2013. [show factors | methodology]

 
Full Title

A bill to ensure that the Federal Reserve conducts its policies to ensure long-term price stability and a low rate of inflation.

Summary

No summaries available.

Cosponsors
1 cosponsors (1R) (show)
Committees

Senate Banking, Housing, and Urban Affairs

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

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


2/4/2013--Introduced.
Federal Reserve Single Mandate Act of 2013 - Amends the Federal Reserve Act to eliminate maximum employment and stable prices as goals for the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to promote in maintaining long run growth of monetary and credit aggregates. Replaces such goals with long-term price stability and a low rate of inflation. (Retains the current third goal of moderate long-term interest rates.)
Requires the Board to: (1) establish an explicit numerical definition of the term "long-term price stability," and (2) maintain monetary policy that effectively promotes such long-term price stability.

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

The House Democratic Caucus does not provide summaries of bills.

So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

We’ll be looking for a source of summaries from the other side in the meanwhile.

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