Article: Rep. Saxton Introduces Price Stability and Inflation Targeting Act

AMBRESH RANJAN

US Fed News

WASHINGTON, May 19 -- Rep. Jim Saxton, R-New Jersey, has introduced the Price Stability and Inflation Targeting Act of 2008 (H.R. 6042), legislation that would "mandate price stability as the primary goal of the monetary policy of the Board of Governors of the Federal Reserve System and the Federal Open Market Committee."

The bill was introduced on May 13. It was referred to the House Financial Services Committee.

For more information about this report, contact US Fed News through its Washington, D.C.-area office, 703/304-1897 or by e-mail at myron@targetednews.com.

A copy of the full-text of the legislation follows:Price Stability and Inflation Targeting Act of ...

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