Section 1 Short title
This Act may be cited as the “Federal Reserve Single Mandate Act of 2013”.
Federal Reserve Single Mandate Act of 2013
A BILL
To ensure that the Federal Reserve conducts its policies to ensure long-term price stability and a low rate of inflation.
Sec. 2 Amendments to the Federal Reserve Act
Section 2A of the Federal Reserve Act (12 U.S.C. 225a) is amended—
by striking “maximum employment, stable prices,” and inserting “long-term price stability, a low rate of inflation,”; and
by adding at the end the following: “The Board shall establish an explicit numerical definition of the term “long-term price stability” and shall maintain monetary policy that effectively promotes such long-term price stability.”.