118th Congress · SENATE BILLBILL

S. 2411 — Rein in the Federal Reserve Act

“A bill to place further congressional oversight on any quantitative easing or tightening programs or any emergency lending programs of the Board of Governors of the Federal Reserve System, to require reports to Congress relating to those programs, to require congressional approval of the extension of those programs, and for other purposes.”

Finance and financial sector

Introduced Jul 20, 2023

Last action Jul 20, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jul 20, 2023

Step 2

Referred

Jul 20, 2023

Banking, Housing, and Urban Affairs

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill requires regular reports from the Federal Reserve Board upon the initiation of a quantitative easing or tightening program or an emergency lending program. Further, without congressional authorization, the board must end the operation of any such program after a year. Congress is also authorized to disapprove of any such program.

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Jul 20, 2023

Introduced in Senate

Jul 20, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.