12 U.S.C. § 225a — Maintenance of long run growth of monetary and credit aggregates

submitted 113 years ago by Pub. L. 95-188 to r/title-12-BANKS-AND-BANKING · 53 words · no verdicts yet

in plain englishAI-generated · not legal advice

The Federal Reserve Board and the Federal Open Market Committee must keep the long-run growth of money and credit in line with the economy's long-run ability to grow production, in order to promote maximum employment, stable prices, and moderate long-term interest rates.

The Board of Governors of the Federal Reserve System and the Federal Open Market Committee must keep the long-run growth of the money supply and credit matched to how much the economy can grow production over the long run. They must do this in a way that effectively promotes three goals: maximum employment, stable prices, and moderate long-term interest rates.

the actual law source: uscode.house.gov ↗public domain

The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy’s long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.

Source credit: (Dec. 23, 1913, ch. 6, § 2A, as added Pub. L. 95–188, title II, § 202, Nov. 16, 1977, 91 Stat. 1387; amended Pub. L. 95–523, title I, § 108(a), Oct. 27, 1978, 92 Stat. 1897; Pub. L. 100–418, title III, § 3005(c), Aug. 23, 1988, 102 Stat. 1375; Pub. L. 106–569, title X, § 1003(a), Dec. 27, 2000, 114 Stat. 3028.)

history & why it existsrecord from the source credit

1913Enacted · Pub. L. 95-188 · 91 Stat. 1387
1978Amended · Pub. L. 95-523 · 92 Stat. 1897
1988Amended · Pub. L. 100-418 · 102 Stat. 1375
2000Amended · Pub. L. 106-569 · 114 Stat. 3028

A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-188 on 1913-12-23.

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