A joint resolution directing the President to consult with the Governors of the Federal Reserve System for the purpose of substantially reducing interest rates within the next 90 days.

Summary

Directs the President to immediately begin consultation with the Board of Governors of the Federal Reserve System for the purpose of modifying the Board of Governors' monetary policy to significantly reduce interest rates within the next 90 days. Requires such consultations to include modifications in the areas of: (1) reserve requirements; (2) Federal Open Market Committee activities; and (3) the Federal Reserve discount rate.

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

Timeline

1. 30 July 1981

   Introduced

   Read second time and referred to Senate Committee on Banking.

   Source: IntroReferral

2. 30 July 1981

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 30 July 1981

  Open at official source

Sponsors

• Sen. Melcher, John [D-MT] · D · Sponsor
• Sen. Pryor, David H. [D-AR] · D · Sponsor
• Sen. Boren, David L. [D-OK] · D · Sponsor
• Rep. Pressler, Larry [R-SD-1] · R · Sponsor
• Sen. Huddleston, Walter (Dee) [D-KY] · D · Sponsor
• Sen. Sasser, Jim [D-TN] · D · Sponsor
• Sen. Sarbanes, Paul S. [D-MD] · D · Sponsor
• Rep. Andrews, Mark [R-ND-At Large] · R · Sponsor
• Sen. Heflin, Howell [D-AL] · D · Sponsor
• Sen. Cannon, Howard W. [D-NV] · D · Sponsor
• Sen. Riegle, Donald W., Jr. [D-MI] · D · Sponsor
• Sen. Randolph, Jennings [D-WV] · D · Cosponsor
• · ssbk00 · Standing

Related records

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