Bill > HRes677

This resolution affirms the independence of the Federal Reserve System, emphasizing its critical role as the United States' central bank responsible for maintaining financial stability, managing inflation, and promoting maximum employment. The resolution recognizes that the Federal Reserve's ability to make monetary policy decisions must be free from short-term political pressure, highlighting the importance of data-driven and long-term economic analysis. Specifically, the resolution supports Chairman Jerome Powell and the Board of Governors, expressing confidence in their nonpartisan leadership and commitment to the institution's integrity. It urges the President and executive branch officials to respect the Federal Reserve's statutory independence, warning that attempts to intimidate, override, or remove the Federal Reserve Chair or Board members for political reasons would violate the Federal Reserve Act and potentially undermine global confidence in U.S. financial markets and the economy. The resolution ultimately seeks to protect the Federal Reserve's autonomy and reaffirm its essential role in maintaining a stable economic system that benefits all Americans.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-resolution/677/all-info