Bill > HR5499

This bill, called the "Fed Integrity and Independence Act of 2025", aims to strengthen the independence of the Federal Reserve System by prohibiting dual appointments for certain key positions. The legislation finds that the Federal Reserve's independence from political interference is crucial, and currently, the system protects this by having Board of Governors members serve staggered 14-year terms. The bill specifically prohibits any employee appointed by the President from simultaneously serving on the Board of Governors, even if they are on leave from their other position. It amends the Federal Reserve Act to prevent presidents of Federal Reserve banks and the first vice president of the New York Federal Reserve Bank from holding other Presidential appointments concurrently. The bill mandates that any individuals currently serving in these roles who would be ineligible under the new rules will be terminated from their positions upon the act's enactment. By doing so, Congress seeks to ensure that Federal Reserve leadership remains focused on long-term economic goals without being subject to potential political pressures from the executive branch.

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https://www.congress.gov/bill/119th-congress/house-bill/5499/all-info