Directs the President, the Board of Governors of the Federal Reserve System, and Congress to take the following steps to lower and stabilize interest rates: (1) make immediate spending cuts by identifying and eliminating nonessential and low-priority items which may remain in the budget; and (2) increase government revenues by eliminating existing preferences.
States that the Board of Governors should responsibly increase the money supply.
Introduced in House
Introduced in House
Referred to House Committee on Banking, Finance and Urban Affairs.
Referred to Subcommittee on Domestic Monetary Policy.
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