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United States · Bill · S

S. 2807 (97th)

Balanced Monetary Policy Act of 1982

openUnited States· United States Congress· EN

Introduced

3 August 1982

Last action

9 August 1982 · Committee

Status

Committee on Banking requested executive comment from Federal Reserve System; Treasury Department; Council of Economic Advisers.

Sponsors

Sen. Byrd, Robert C. [D-WV], Sen. Cranston, Alan [D-CA], Sen. Inouye, Daniel K. [D-HI], Sen. Ford, Wendell H. [D-KY], Sen. Baucus, Max [D-MT], Sen. Bentsen, Lloyd M. [D-TX], Sen. Biden, Joseph R., Jr. [D-DE], Sen. Boren, David L. [D-OK], Sen. Bumpers, Dale [D-AR], Sen. Burdick, Quentin N. [D-ND], Sen. Cannon, Howard W. [D-NV], Sen. DeConcini, Dennis [D-AZ], Sen. Dixon, Alan J. [D-IL], Sen. Dodd, Christopher J. [D-CT], Sen. Eagleton, Thomas F. [D-MO], Sen. Huddleston, Walter (Dee) [D-KY], Sen. Jackson, Henry M. [D-WA], Sen. Johnston, J. Bennett [D-LA], Sen. Kennedy, Edward M. [D-MA], Sen. Levin, Carl [D-MI], Sen. Matsunaga, Spark M. [D-HI], Sen. Melcher, John [D-MT], Sen. Metzenbaum, Howard M. [D-OH], Sen. Mitchell, George J. [D-ME], Sen. Moynihan, Daniel Patrick [D-NY], Sen. Pell, Claiborne [D-RI], Sen. Pryor, David H. [D-AR], Sen. Randolph, Jennings [D-WV], Sen. Riegle, Donald W., Jr. [D-MI], Sen. Sarbanes, Paul S. [D-MD], Sen. Sasser, Jim [D-TN], Sen. Leahy, Patrick J. [D-VT], Sen. Long, Russell B. [D-LA], Sen. Exon, J. James [D-NE]

Subjects

Discovery layer

Source updated

29 August 2025

Official sourceView documentsShare

Summary

Balanced Monetary Policy Act of 1982 - Amends the Federal Reserve Act to require the Board of Governors and the Federal Open Market Committee of the Federal Reserve System to establish yearly targets for positive real short-term interest rates and for the growth or diminution of money and credit aggregates, consistent with the interest rate targets. Requires the Board and the Federal Open Market Committee to take necessary actions to assure that such targets are achieved, on average, on an annual basis. Requires a written report to specified congressional committees if such targets cannot or should not be achieved because of unfavorable economic conditions. Requires the Board of Governors to transmit specified information to Congress biannually. Requires the Board to announce publicly changes in objectives and plans at the time those changes are determined.

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

Timeline

  1. 3 August 1982

    Introduced

    Read twice and referred to the Committee on Banking.

    Source: IntroReferral

  2. 3 August 1982

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 9 August 1982

    Committee

    Committee on Banking requested executive comment from Federal Reserve System; Treasury Department; Council of Economic Advisers.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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