House Dems Oppose Removal Of Fed's Dual Mandate

Law360, New York (March 7, 2012, 6:12 PM EST) -- House Democrats on Wednesday voiced their opposition to Republican efforts to do away with the Federal Reserve's mandate to maximize employment and pushed for a legislative hearing on the issue.

All 27 Democratic members of the House Financial Services Committee signed a letter addressed to committee Chairman Spencer Bachus, R-Ala., that opposes removing the Fed's employment mandate, which has been put to paper in the Sound Dollar Act, proposed by Rep. Kevin Brady, R-Texas.

The bill would restrict the Fed to a single mandate — stabilizing...
To view the full article, register now.