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HR 2546 98th Congress House Economics and Public Finance Credit Credit controls Federal Reserve System Finance and Financial Sector Government Operations and Politics Interest Interest rates Monetary policy Money Money supply

Balanced Monetary Policy Act of 1983

Introduced: April 13, 1983 See on congress.gov
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 Everywhere this bill has been 4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 9, 1983
Subcommittee Hearings Held.
May 2, 1983
Referred to Subcommittee on Domestic Monetary Policy.
Apr 13, 1983
Referred to House Committee on Banking, Finance and Urban Affairs.
Apr 13, 1983
Introduced in House
 Plain-English summary Congressional Research Service

Balanced Monetary Policy Act of 1983 - Amends the Federal Reserve Act to require the Board of Governors and the Federal Open Market Committee of the Federal Reserve System to establish yearly targets for money and total credit aggregates and for real interest rates consistent with historic levels.

Requires the Board and the Federal Open Market Committee to take necessary actions to assure that such targets are achieved, on average, on an annual basis.

Requires a written report to specified Congressional committees if such targets cannot or should not be achieved because of unfavorable economic conditions.

Requires the Board of Governors to transmit specified information to Congress biannually.

Requires the Board to announce publicly changes in objectives and plans at the time those changes are determined.

Requires the President to state for the System's record the administration's position on each vote on monetary policy taken by the Board and by the Federal Open Market Committee.

What's happening now June 9, 1983

Subcommittee Hearings Held.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1