ABSTRACT

Federal Reserve: Legislation in the 115th Congress [May 16, 2017]   [open pdf - 669KB]

"The proposals reviewed in this report are wide ranging and diverse; many are united by the goals of increasing the Fed's accountability to Congress and decreasing Fed discretion. Although some provisions make minor changes, taken together the proposals would arguably somewhat reduce the Fed's independence from Congress. The Fed is more independent than most other agencies, which has traditionally been justified by its monetary policy responsibilities. Most research has found a positive relationship between monetary policy independence and economic outcomes. To some extent, a tradeoff between independence and accountability is unavoidable. This report analyzes Fed bills that have seen committee or floor action and the policy debate surrounding them."

Report Number:
CRS Report for Congress, R44848
Author:
Publisher:
Date:
2017-05-16
Copyright:
Public Domain
Retrieved From:
Federation of American Scientists: http://www.fas.org/sgp/crs/index.html
Format:
pdf
Media Type:
application/pdf
URL:
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