Statement to Congress: Oppose Proposals To End Independent Federal Reserve Funding

beSpacific 2018-01-11

Americans for Financial Reform (AFR) sent a statement to the House Financial Services Committee regarding proposals to end independent funding for Federal Reserve bank regulation and supervision. “On behalf of Americans for Financial Reform (AFR), we are writing to stateour opposition to legislative proposals that would end independent funding for Federal Reserve supervision and regulation and shift such funding into the Congressional budgetary process..”

Subcommittee Examines Ways to Reform the Federal Reserve Washington, January 10, 2018 

The Subcommittee on Monetary Policy and Trade met today to further examine proposals to reform the Federal Reserve. Proposals reviewed include:

  • H.R. ____, to amend the Federal Reserve Act to establish requirements for salaries, financial disclosures, and office staff of the Board of Governors of the Federal Reserve System
  • H.R. ____, to amend the Federal Reserve Act to establish a blackout period for public communications by the Federal Open Market Committee
  • H.R. ____, to amend the Federal Reserve Act to bring the non-monetary policy related functions of the Board of Governors of the Federal Reserve System into the appropriations process
  • H.R. ____, to amend the Federal Reserve Act to modify the appointment process for presidents of the Federal Reserve Banks
  • H.R. ____, to amend the Federal Reserve Act to revise the membership of Federal Open Market Committee
  • H.R. ____, to amend the Federal Reserve Act to require the Federal Open Market Committee to establish interest rates on balances maintained at a Federal Reserve Bank by depository institutions
  • H.R. ____, to amend the Federal Reserve Act to require the Vice Chairman for Supervision of the Board of Governors of the Federal Reserve System to provide a written report”