H.R. 1664 — Introduced in House

I 118th CONGRESS 1st Session H. R. 1664 IN THE HOUSE OF REPRESENTATIVES March 17, 2023Mr. Torres of New York introduced the following bill; which was referred to the Committee on Financial Services A BILL To require the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to consider inflation, employment, and financial stability when setting interest rates. 1. Short title This Act may be cited as the Financial Stability Mandate Act. 2. Interest rate considerations Section 2A of the Federal Reserve Act is amended— (1) by striking The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall and inserting the following: (a) In general The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall ; and (2) by adding at the end the following: (b) Considerations The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall, when setting interest rates, consider inflation, employment, and financial stability. .