Section 1 Short title
This Act may be cited as the “Financial Stability Mandate Act”.
Financial Stability Mandate Act
A BILL
To require the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to consider inflation, employment, and financial stability when setting interest rates.
Sec. 2 Interest rate considerations
Section 2A of the Federal Reserve Act is amended—
by striking “The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall” and inserting the following:
“(a) In general—The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall”
by adding at the end the following:
“(b) Considerations—The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall, when setting interest rates, consider inflation, employment, and financial stability.”