House Republicans Introduce Bill to Change Federal Reserve’s Dual Mandate

Reforms may be on the horizon for the Federal Reserve System, as a new bill aims to alter the U.S. central bank’s dual mandate. House Republicans, led by House Committee on Financial Services Chairman French Hill (R-Ark.), introduced the Price Stability Act of 2025, a bill that would end the twin mandate, ensuring the Federal Reserve concentrates primarily on containing inflation. “For too long, the Federal Reserve has been stretched between competing objectives. It’s time to return to a clear, singular focus: protecting the wallets of American families by keeping inflation in check,” Hill said in a statement. In 1977, Congress formally introduced the twin mandate of ensuring maximum employment and price stability through an amendment to the Federal Reserve Act of 1913. The broader legislative initiative emerged as the U.S. economy struggled with higher unemployment, rising inflation, and volatile GDP growth rates....