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United States · Bill · HR

H.R. 1130 (102nd)

Federal Reserve Reform Act of 1991

referredUnited States· United States Congress· EN

Introduced

27 February 1991

Last action

15 March 1991 · Referred

Status

Referred to the Subcommittee on Domestic Monetary Policy.

Sponsors

Sen. Dorgan, Byron L. [D-ND], Rep. Hamilton, Lee H. [D-IN-9], Rep. Pease, Donald J. [D-OH-13], Rep. Annunzio, Frank [D-IL-11], Rep. Jacobs, Andrew, Jr. [D-IN-10], Rep. Frank, Barney [D-MA-4], Rep. Vento, Bruce F. [D-MN-4], Rep. Obey, David R. [D-WI-7], Rep. Weber, Vin [R-MN-2], Rep. Bilbray, James H. [D-NV-1], Rep. Evans, Lane [D-IL-17], Rep. Rahall, Nick J., II [D-WV-3], Rep. Costello, Jerry F. [D-IL-12], Rep. Kildee, Dale E. [D-MI-5], Rep. Gibbons, Sam [D-FL-11], Rep. Swett, Dick [D-NH-2], Rep. McNulty, Michael R. [D-NY-23], Rep. McCloskey, Frank [D-IN-8], Rep. Wheat, Alan [D-MO-5], Rep. Jontz, Jim [D-IN-5], Rep. Sangmeister, George E. [D-IL-4], Rep. DeFazio, Peter A. [D-OR-4], Rep. Towns, Edolphus [D-NY-10], Rep. Rangel, Charles B. [D-NY-15], Sen. Boxer, Barbara [D-CA], Rep. Roe, Robert A. [D-NJ-8], Rep. Schiff, Steven [R-NM-1], Rep. Lipinski, William O. [D-IL-3], Rep. Hughes, William J. [D-NJ-2], Rep. Lancaster, H. Martin [D-NC-3], Rep. Bonior, David E. [D-MI-10], Rep. Bacchus, Jim [D-FL-11], Rep. Andrews, Robert E. [D-NJ-1], Rep. Ravenel, Arthur, Jr. [R-SC-1], Rep. Volkmer, Harold L. [D-MO-9], Rep. Sabo, Martin Olav [D-MN-5], Rep. Owens, Wayne [D-UT-2], Rep. Eckart, Dennis E. [D-OH-11], Rep. Peterson, Collin C. [D-MN-7], Rep. Smith, Lawrence [D-FL-16], Rep. Hancock, Mel [R-MO-7], Rep. Murphy, Austin J. [D-PA-20], Rep. Engel, Eliot L. [D-NY-16], Rep. Espy, Mike [D-MS-2], Rep. English, Glenn [D-OK-6], Rep. Cox, John W., Jr. [D-IL-16], Rep. Ramstad, Jim [R-MN-3], Rep. Unsoeld, Jolene [D-WA-3]

Subjects

Budget

Source updated

26 August 2025

Budget

Official sourceDownload fileView documentsShare

Summary

Federal Reserve Reform Act of 1991 - Amends the Federal Reserve Act to require the Federal Open Market Committee to consult with the Secretary of the Treasury, the Director of the Office of Management and Budget, and the chairman of the Council of Economic Advisers during a specified period preceding the President's submission of the budget. Directs the President to appoint, with the advice and consent of the Senate, the Chairman and Vice Chairman of the Board of Governors of the Federal Reserve System (the Board). Mandates that any change in the intermediate targets for monetary policy adopted by the Federal Open Market Committee shall be publicly disclosed on the date of its adoption. Prohibits the Comptroller General from auditing written communications among members of the Board including Federal Reserve System personnel with respect to transactions with a foreign central bank, foreign government, or nonprivate international financing organization. Mandates that the estimated receipts and proposed expenditures of the Board and all Federal Reserve Banks be transmitted by the President (without change) with the budget submitted to the Congress.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 27 February 1991

    Introduced

    Referred to the House Committee on Banking, Finance + Urban Affrs.

    Source: IntroReferral

  2. 27 February 1991

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 27 February 1991

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 1 March 1991

    Referred

    Referred to the Subcommittee on Legislation and National Security.

    Source: Committee

  5. 15 March 1991

    Referred

    Referred to the Subcommittee on Domestic Monetary Policy.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

2 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN

    ViewDownloadOpen at official source

  • Introduced in House

    summary · EN · 27 February 1991

    Open at official source

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Sponsors

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Related records

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Sources

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