HR 773 · 97th Congress · Finance and Financial Sector

Board of Governors Modernization Act of 1981

Introduced 1981-01-06· Sponsored by Rep. Reuss, Henry S. [D-WI-5]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to Subcommittee on Domestic Monetary Policy.(1981-01-30)

Plain Language Summary

[AI summary unavailable — showing source text] Board of Governors Modernization Act of 1981 - Amends the Federal Reserve Act to eliminate the Federal Open Market Committee and to place authority for the conduct of open-market operations in the Board of Governors of the Federal Reserve System. Requires the Board of Governors to consult fully with the twelve Presidents of the Federal Reserve District Banks on open market operations.…

Summarized by Claude AI · Non-partisan · For informational purposes only