House Republican Unveils Bill To Reshape Fed

Law360, New York (March 6, 2012, 3:22 PM EST) -- A senior Republican in the U.S. House of Representatives on Monday unveiled a bill that would do away with the Federal Reserve’s mandate to maximize employment, and institute congressional oversight of the new Consumer Financial Protection Bureau, among other proposals.

The Sound Dollar Act, authored by Rep. Kevin Brady, R-Texas, would restrict the Fed to a single mandate — stabilizing prices. Brady, a member of the House Ways and Means Committee and vice chairman of the Joint Economic Committee, unveiled the bill at a Monday speech he...
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