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HR 3541 114th Congress House

Full Employment Federal Reserve Act of 2015

Official title: To amend the Federal Reserve Act to modify the goals of the Board of Governors of the Federal Reserve System and the Federal Open Market Committee.

Introduced: November 30, 2015 See on congress.gov
Finance and Financial Sector Economic performance and conditionsFederal Reserve SystemInflation and pricesMonetary policy
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Temporary and part-time employmentWages and earnings
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) 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
Sep 17, 2015
Referred to the House Committee on Financial Services.
Sep 17, 2015
Introduced in House
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 Latest action September 17, 2015

Referred to the House Committee on Financial Services.

 Plain-English summary Congressional Research Service

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.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 9
All 9 Democratic 9
D
Garamendi, John
California · Feb 23, 2016
 D
Clarke, Yvette D.
New York · Nov 30, 2015
 D
Norton, Eleanor Holmes
District of Columbia · Nov 30, 2015
 D
Sherman, Brad
California · Nov 30, 2015
 D
Cohen, Steve
Tennessee · Nov 16, 2015
 D
Pocan, Mark
Wisconsin · Oct 9, 2015
 D
Johnson, Henry C. "Hank"
Georgia · Sep 17, 2015
 D
Kaptur, Marcy
Ohio · Sep 17, 2015
 D
Wilson, Frederica S.
Florida · Sep 17, 2015
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 3541: Full Employment Federal Reserve Act of 2015. 114th Congress. Open America. https://openamerica.io/bill/114-HR-3541/
MLA
"H.R. 3541: Full Employment Federal Reserve Act of 2015." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-HR-3541/.
Bluebook (legal)
H.R. 3541, 114th Cong. (2026), https://openamerica.io/bill/114-HR-3541/.
Markdown link
[H.R. 3541: Full Employment Federal Reserve Act of 2015](https://openamerica.io/bill/114-HR-3541/)
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