A concurrent resolution expressing the sense of the Congress that monetary policy should stabilize the domestic economy, not exchange rates.

Summary

Urges the Board of Governors of the Federal Reserve System and the Federal Open Market Committee to: (1) conduct monetary policy independently of any international agreements or understandings reached by the Department of the Treasury; (2) refrain from conducting monetary policy primarily for the purpose of maintaining exchange rates for the dollar at any particular level or within any particular range; (3) devote monetary policy to the stabilization of the domestic economy along a path of steady, sustainable, and noninflationary growth, even if such stabilization entails significant changes in exchange rates; and (4) take into account the behavior of the dollar on the foreign exchange market in their deliberations, but only as one of many factors affecting the domestic economy.

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

Timeline

1. 3 November 1987

   Introduced

   Introduced in House

   Source: IntroReferral

2. 3 November 1987

   Referred

   Referred to Subcommittee on Domestic Monetary Policy.

   Source: Committee

3. 3 November 1987

   Introduced

   Referred to House Committee on Banking, Finance and Urban Affairs.

   Source: IntroReferral

4. 3 November 1987

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in House

  summary · EN · 3 November 1987

  Open at official source

Sponsors

• Rep. Neal, Stephen L. [D-NC-5] · D · Sponsor
• · hsba00 · Standing

Related records

• related to ← A resolution expressing the sense of the House of Representatives that monetary policy should stabilize the domestic economy, not exchange rates.