Skip to main content
H.R. 6053 110th Congress House

Price Stability Act of 2008

Official title: 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 pur… Show full official titleShow less

Official title: 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.

Introduced: May 14, 2008 See on congress.gov
Economics and Public Finance Civil Rights and Liberties, Minority IssuesCommerceCongressCongressional reporting requirements
More subjectsShow fewer subjects
Economic growthFinance and Financial SectorFree enterpriseInflationMonetary policyMoneyOpen market operationsPricesRight of propertyStandard of livingTaxation
Sign in to write a letter Sign in to watch
This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 14, 2008
Referred to the Committee on Financial Services, and in addition to the Committees on Education and Labor, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
May 14, 2008
Introduced in House
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Latest action May 14, 2008

Referred to the Committee on Financial Services, and in addition to the Committees on Education and Labor, and the Budget, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Plain-English summary Congressional Research Service

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.

 Related & companion bills 1
  • HR 6042 Price Stability and Inflation Targeting Act of 2008
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 3
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 6053: Price Stability Act of 2008. 110th Congress. Open America. https://openamerica.io/bill/110-HR-6053/
MLA
"H.R. 6053: Price Stability Act of 2008." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-6053/.
Bluebook (legal)
H.R. 6053, 110th Cong. (2026), https://openamerica.io/bill/110-HR-6053/.
Markdown link
[H.R. 6053: Price Stability Act of 2008](https://openamerica.io/bill/110-HR-6053/)
Report a problem