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HR 245 112th Congress House

To amend the Federal Reserve Act to remove the mandate on the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to focus on maximum employment.

Introduced: January 18, 2011 See on congress.gov
Economics and Public Finance Inflation and pricesMonetary policyUnemployment
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) 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 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 8, 2012
Subcommittee Hearings Held.
Mar 23, 2011
Referred to the Subcommittee on Domestic Monetary Policy and Technology.
Jan 7, 2011
Introduced in House
Jan 7, 2011
Referred to the House Committee on Financial Services.
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 Latest action May 8, 2012

Subcommittee Hearings Held.

 Plain-English summary Congressional Research Service

Amends the Federal Reserve Act to repeal the joint mandate on the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to make maximum employment one of the goals of their duty to maintain long run growth of the monetary and credit aggregates commensurate with the U.S. economy's long run potential to increase production.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1
R
McClintock, Tom
California · Jan 18, 2011
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 245: To amend the Federal Reserve Act to remove the mandate on the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to focus on maximum employment.. 112th Congress. Open America. https://openamerica.io/bill/112-HR-245/
MLA
"H.R. 245: To amend the Federal Reserve Act to remove the mandate on the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to focus on maximum employment.." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-245/.
Bluebook (legal)
H.R. 245, 112th Cong. (2026), https://openamerica.io/bill/112-HR-245/.
Markdown link
[H.R. 245: To amend the Federal Reserve Act to remove the mandate on the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to focus on maximum employment.](https://openamerica.io/bill/112-HR-245/)
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