Some House Republicans push to revamp Fed mandate– www.washingtonexaminer.com Some House Republicans push to revamp Fed mandate– www.washingtonexaminer.com Republicans on Capitol Hill are pushing to end the Federal Reserve‘s dual mandate of price stability and maximum employment and instead limit its remit exclusively to keeping inflation low. The Price Stability Act, introduced this week by House Financial Services Committee Chairman French Hill (R-AR), would require that Fed officials only consider inflation when making monetary policy decisions. Rep. Marlin Stutzman (R-IN), one of the bill’s co-sponsors, told the Washington Examiner during an interview that changing the Fed’s mandate would be good for the economy. Notably, over the past several years, the U.S. experienced the worst wave of inflation since the 1970s.
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