Monetary Policy Transparency and Accountability Act of 2017
Latest action · Apr 25, 2018 Placed on the Union Calendar, Calendar No. 500.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedNov 7, 2017
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Monetary Policy Transparency and Accountability Act of 2017
This bill amends the Federal Reserve Act to require the Federal Open Market Committee to annually publish its monetary policy strategy. The strategy must include short-term interest-rate targets, open-market operations, and earnings on Federal Reserve bank balances. The Chairman of the Federal Open Market Committee is required to report on such strategy semiannually.
Cosponsors 5
Members who signed on, in the order they did. Signatures ran from Jan 11, 2018 to Feb 6, 2018.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-MO | Ann Wagner | Jan 11, 2018 | |
| R-MI | Bill Huizenga | Jan 11, 2018 | |
| R-IN | Todd Rokita | Jan 11, 2018 | |
| R-NC | Robert Pittenger | Jan 22, 2018 | |
| R-NC | Ted Budd | Feb 6, 2018 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred Nov 7, 2017Markup Nov 14, 2017Reported Apr 25, 2018 |
| Financial Institutions and Monetary Policy Subcommittee | Hearings Nov 7, 2017 |
Actions 7
Everything that happened, newest first.
- Apr 25, 2018Reported by the Committee on Financial Services. H. Rept. 115-652.
- Apr 25, 2018Placed on the Union Calendar, Calendar No. 500.
- Nov 14, 2017Committee Consideration and Mark-up Session Held.
- Nov 14, 2017Ordered to be Reported by the Yeas and Nays: 33 - 26.
- Nov 7, 2017Introduced in House
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Committee report
Congressional Budget Office cost estimates 2
- Jan 22, 2018H.R. 4270, Monetary Policy Transparency and Accountability Act of 2017As ordered reported by the House Committee on Financial Services on November 14, 2017
- Dec 5, 2017H.R. 4270, Monetary Policy Transparency and Accountability Act of 2017As ordered reported by the House Committee on Financial Services on November 14, 2017
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 163, no. 181, November 7, 2017, page H8597.
CRS reports 1
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 1
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R44848 | Federal Reserve: Legislation in the 115th Congress Archived | Report | Sep 25, 2018 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 6741 | Federal Reserve Reform Act of 2018 | Related bill | Jan 2, 2019 |
Titles 3
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To amend the Federal Reserve Act to ensure transparency in the conduct of monetary policy, and for other purposes.
- Short Titles as Introduced
- Monetary Policy Transparency and Accountability Act of 2017
- Short Titles as Reported to House
- Monetary Policy Transparency and Accountability Act of 2017
Subjects
Assigned by the Library of Congress. Policy area: Economics and Public Finance.
Text 2
Each version as it was printed, newest first.
- Apr 25, 2018Reported in House
- Nov 7, 2017Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
