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HR 6741 115th Congress House Economics and Public Finance Appropriations Credit and credit markets Federal Reserve System Government employee pay, benefits, personnel management Government lending and loan guarantees Interest, dividends, interest rates Monetary policy Securities

Federal Reserve Reform Act of 2018

Introduced: September 7, 2018 Introduced by: Barr, Andy Republican · Kentucky See on congress.gov
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This bill died when the 115th Congress ended
It never became law before the 115th Congress (2017–2018) 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 7 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 2, 2019
Reported (Amended) by the Committee on Financial Services. H. Rept. 115-1116, Part I.
Jan 2, 2019
Placed on the Union Calendar, Calendar No. 883.
Jan 2, 2019
Committee on Rules discharged.
Sep 13, 2018
Ordered to be Reported (Amended) by the Yeas and Nays: 30 - 21.
Sep 13, 2018
Committee Consideration and Mark-up Session Held.
Sep 7, 2018
Referred to the Committee on Financial Services, and in addition to the Committee on Rules, 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.
Sep 7, 2018
Introduced in House
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 Plain-English summary Congressional Research Service

Federal Reserve Reform Act of 2018

This bill revises provisions related to the authority of the Federal Reserve Board to set monetary policy. Among other things, the bill

  • generally limits the board's emergency-lending authority;
  • subjects the nonmonetary policy-related administrative costs of the board to the congressional appropriations process;
  • limits the types of securities that the board may acquire in the open market to gold stock, currency, and direct obligations of the United States, foreign banks, or the International Monetary Fund;
  • requires the board to exchange certain assets with the Department of the Treasury for direct U.S. obligations of equivalent value;
  • requires the Federal Open Market Committee (FOMC) to set the interest rates on balances maintained at Federal Reserve banks by depository institutions;
  • revises the membership of the FOMC; and
  • requires the FOMC to annually publish its monetary policy strategy;
What's happening now January 2, 2019

Placed on the Union Calendar, Calendar No. 883.

 Related & companion bills 11
  • HR 2172 Related bill FFOCUS Act of 2017.
  • HR 4270 Related bill Monetary Policy Transparency and Accountability Act of 2017
  • HR 4278 Related bill Independence from Credit Policy Act of 2017
  • HR 4302 Related bill Congressional Accountability for Emergency Lending Act of 2017
  • HR 4753 Related bill Federal Reserve Supervision Testimony Clarification Act
  • HR 4755 Related bill Federal Reserve Regulatory Oversight Act
  • HR 4756 Related bill Federal Reserve Blackout Improvement Act
  • HR 4757 Related bill Fully Informed District Bank Act
  • HR 4758 Related bill FOMC Policy Responsibility Act
  • HR 4759 Related bill FOMC Representation Improvement Act
  • HR 4791 Related bill Federal Reserve Disclosure Act
 Bill text 2 versions

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Republican 3
R
Davidson, Warren
Ohio · Sep 7, 2018
 R
Lucas, Frank D.
Oklahoma · Sep 7, 2018
 R
Tenney, Claudia
New York · Sep 7, 2018
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 6741: Federal Reserve Reform Act of 2018. 115th Congress. Open America. https://openamerica.io/bill/115-HR-6741/
MLA
"H.R. 6741: Federal Reserve Reform Act of 2018." 115th Congress, 2026, Open America, https://openamerica.io/bill/115-HR-6741/.
Bluebook (legal)
H.R. 6741, 115th Cong. (2026), https://openamerica.io/bill/115-HR-6741/.
Markdown link
[H.R. 6741: Federal Reserve Reform Act of 2018](https://openamerica.io/bill/115-HR-6741/)
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