Bill > HR6741

This bill, the Federal Reserve Reform Act of 2018, proposes several reforms to increase transparency and accountability of the Federal Reserve System. Key provisions include: - Requiring the Federal Open Market Committee to annually establish a monetary policy strategy and adopt one to three reference monetary policy rules, while allowing deviations from these as needed. The Chairman would report on any differences between the strategy and rules. - Returning the Federal Reserve's balance sheet to focus solely on monetary policy by transferring any non-monetary policy assets to the Treasury Department. - Increasing Congressional oversight and approval requirements for the Federal Reserve's emergency lending programs. - Requiring the Board of Governors' non-monetary policy administrative costs to be subject to the appropriations process. - Restricting public communications by Federal Open Market Committee members during a blackout period around Committee meetings. - Increasing financial disclosure and regulating the financial interests of Board of Governors members and employees.

Business and Industry

https://www.congress.gov/bill/115th-congress/house-bill/6741/all-info