A resolution expressing the sense of the House of Representatives 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.

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Documents

1 official file

• Introduced in House

  summary · EN · 3 November 1987

  Open at official source

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