Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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The responsibilities of the Federal Reserve (Fed) fall into four main categories: monetary policy, regulation of certain banks and other financial firms, provision and oversight of certain interbank payment systems, and lender of last resort. This report summarizes issues for Congress in each of these areas, as well a…
The Federal Reserve (Fed) is more independent from Congress and the President than most agencies are. Theory and evidence support the view that independence facilitates a less political, longer-term perspective to monetary policymaking that generally leads to better long-run economic outcomes, such as lower inflation.…
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