BY TYLER DURDEN
FRIDAY, SEP 19, 2025 – 10:25 AM
Authored by Andrew Moran and Nathan Worcester via The Epoch Times,
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.
“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.
Now, a chorus of GOP lawmakers says the institution’s expanding regulatory and supervisory purview over the years is hindering the central bank’s efforts to stabilize prices and threatening the central bank’s independence.
“Expanding its regulatory reach through unaccountable international agreements or otherwise ill-defined third and fourth mandates, distracts the Fed from doing its congressionally mandated job well,” said Rep. Frank Lucas (R-Ok.), head of the Monetary Policy, Treasury Market Resilience, and Economic Prosperity Task Force.
“The Fed’s actions must stay squarely within congressional intent.”
It is unclear how much broad support there is in the upper chamber for reforming the dual mandate.
Rep. Thomas Massie (R-Ky.) told The Epoch Times that he would support removing all mandates and “just eliminate it … get rid of the Fed.”
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