IN THE SENATE OF THE UNITED STATES
February 4, 2013
Mr. Corker (for himself and Mr. Vitter) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
To ensure that the Federal Reserve conducts its policies to ensure long-term price stability and a low rate of inflation.
This Act may be cited as the
Federal Reserve Single Mandate Act of
Amendments to the Federal Reserve Act
Section 2A of the Federal Reserve Act (12 U.S.C. 225a) is amended—
maximum employment, stable prices, and inserting
long-term price stability, a low rate of inflation,; and
by adding at the
end the following:
The Board shall establish an explicit numerical
definition of the term .
long-term price stability and shall
maintain monetary policy that effectively promotes such long-term price