This House resolution supports the Federal Reserve’s independence in setting monetary policy and running its operations. It expresses confidence in Chair Jerome Powell and the Board of Governors, and urges the President and executive branch officials to respect the Federal Reserve’s statutory independence. The resolution was referred to the House Committee on Financial Services.
The resolution states the House’s position; it does not itself change interest rates or the Federal Reserve’s powers. It calls on executive branch officials to avoid actions or statements that could compromise the Federal Reserve’s independence.
No publicly available information.
The resolution says independence helps the Federal Reserve make decisions based on data and long-term economic analysis, and supports confidence in the financial system and the U.S. dollar.
No publicly available information.