The Federal Reserve, the Centennial Monetary Commission, and the Sound Dollar Act
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A century after the creation of the Federal Reserve and two generations after Congress gave the Fed a dual mandate for price stability and full employment, the Fed’s extraordinary actions since 2008 have raised questions about the appropriate role for the Fed and the monetary policy that the Fed should pursue to ensure a strong U.S. economy throughout the 21st century. Rep. Kevin Brady (R-TX), chairman of Congress’s Joint Economic Committee, is at the forefront of this debate. He will be discussing his proposals both for monetary reform (Sound Dollar Act) and for a bipartisan Centennial Monetary Commission to review the Fed’s performance and make recommendations for its role in the future.