S 4464
Federal Reserve Racial and Economic Equity Act
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Bill overview
This bill, the Federal Reserve Racial and Economic Equity Act, directs the Federal Reserve to actively work towards eliminating racial and ethnic disparities in areas like employment, income, wealth, and access to credit. It requires the Federal Reserve Board and the Federal Open Market Committee to consider these disparities in their decision-making across various functions, including monetary policy, bank regulation, and community development. The bill also mandates more detailed reporting to Congress on these disparities and the Fed’s efforts to address them.
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