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.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.