HR 3541
114th Congress
House
Finance and Financial Sector
Economic performance and conditions
Federal Reserve System
Inflation and prices
Monetary policy
Temporary and part-time employment
Wages and earnings
Full Employment Federal Reserve Act of 2015
Introduced: September 17, 2015
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 17, 2015
Referred to the House Committee on Financial Services.
Sep 17, 2015
Introduced in House
Plain-English summary
The Full Employment Federal Reserve Act of 2015
This bill amends the Federal Reserve Act with respect to the duty of the Board of Governors of the Federal Reserve System and the Federal Open Market Committee (FOMC) to promote maximum employment and stable prices.
The bill defines "maximum employment" as an economy with an unemployment rate of at most 4% that generally includes a labor market in which median wages are rising with worker productivity, job seekers can find work, and involuntary part-time work is at a minimum.
The Board and the FOMC are also directed to promote a stable rate of inflation (instead of stable prices) as part of long run growth.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1