U.S. Congress - H.R.6053 Price Stability Act of 2008
H.R.6053 - Price Stability Act of 2008
To require the Board of Governors of the Federal Reserve System to focus on price stability in establishing monetary policy to ensure the stable, long-term purchasing power of the currency, to repeal the Full Employment and Balanced Growth Act of 1978, and for other purposes. view all titles (2)
All Bill Titles
- Short: Price Stability Act of 2008 as introduced.
- Official: To require the Board of Governors of the Federal Reserve System to focus on price stability in establishing monetary policy to ensure the stable, long-term purchasing power of the currency, to repeal the Full Employment and Balanced Growth Act of 1978, and for other purposes. as introduced.
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Official Summary
5/14/2008--Introduced.Price Stability Act of 2008 - Declares it is US policy that the principal economic responsibilities of the Government are to establish both long-term economic growth and increases in living standards, maintain free markets, low taxes, respect for private property, andOfficial Summary
5/14/2008--Introduced.Price Stability Act of 2008 - Declares it is US policy that the principal economic responsibilities of the Government are to establish both long-term economic growth and increases in living standards, maintain free markets, low taxes, respect for private property, and the stable, long-term purchasing power of US currency. Declares that the promotion of price stability should be the primary long-term goal of the Board of Governors of the Federal Reserve System. Amends the Federal Reserve Act to revise the mandate of the Board and the Federal Open Market Committee to require them to:
(1) establish a numerical definition of the term "price stability"; and
(2) maintain a monetary policy that promotes long-term price stability. Requires the Board to consult with, and report to, Congress semi-annually about Board and Committee objectives and plans to achieve and maintain price stability. Repeals the Full Employment and Balanced Growth Act of 1978.
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Recent Blog Coverage
Standard of Living - Madison, Wisconsin » Paul Ryan Is Wisconsinâs ...
Tags: big-government, Fascism, Federal Reserve, free market money, h.r. 6053 price statability act, inflation, interest rates, liberarian, libertarian party, murray rothbard, paul ryan, price stability, printing press, republican, ...
Throwing Support Behind Wisconsin Rep. Paul Ryan
HR 6053: Price Stability Act of 2008 "To require the Board of Governors of the Federal Reserve System to focus on price stability in establishing monetary policy to ensure the stable, long-term purchasing power of the currency, ...
shadegg weighs in on financial fix
5.) the federal reserve should focus solely on stabilizing the currency. it should not have the "growth," "trade," and other duties prescribed by current law. hr 6053, the price stability act of 2008, of which congressman shadegg is a .
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