- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Financial ServicesIntroducedJune 25th, 2015
- house Committees
The Federal Reserve’s dual mandate has led to a lot of experimentation with U.S. monetary policy during times when inflation wasn’t an issue, and that needs to be stopped before it causes unanticipated problems in financial markets. The Fed also shouldn’t be providing funding for the CFPB, which should be funded on either its own merits or not at all.
The actions of the Federal Reserve in the aftermath of the financial crisis in keeping interest rates low have given the American economy a chance to create jobs without higher interest rates stifling investment. That wouldn’t have happened without the dual mandate, so it should remain the Fed’s focus. The CFPB plays a vital role in protecting consumers and should be fully funded.