To amend the Federal Reserve Act to replace the Federal Open Market Committee members representing the Federal Reserve banks with additional members appointed by the President, and for other purposes.

[AI summary unavailable — showing source text] Amends the Federal Reserve Act to replace the Federal Open Market Committee members representing the Federal Reserve banks with additional members appointed by the President, who shall give due regard to a fair representation of the financial, agricultural, industrial, commercial, consumer, and labor interests, and geographical diversity, of the United States.…