Amends the Federal Reserve Act to require that the time, character, and volume of all purchases and sales of paper eligible for open-market operations be governed with a view to: (1) maintaining a constant general level of domestic prices; (2) avoiding destabilizing changes in total purchasing power; and (3) fostering a steady growth in the aggregate of demand deposits and currency in circulation approximately equal to the long-run growth in real national product.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
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