Centennial Monetary Commission Act of 2015
This bill establishes the Centennial Monetary Commission to: (1) examine how U.S. monetary policy since the creation of the Federal Reserve Board in 1913 has affected the performance of the U.S. economy in terms of output, employment, prices, and financial stability over time; (2) evaluate various operational regimes under which the Board and the Federal Open Market Committee may conduct monetary policy in terms achieving the maximum sustainable level of output and employment and price stability over the long term; and (3) recommend a course for U.S. monetary policy going forward.
The Commission shall evaluate as a tool of monetary policy: (1) macro-prudential supervision and regulation, and (2) the lender-of-last-resort function of the Board.