In 1995, then Senator Connie Mack of Florida introduced a bill that
A)would force the Fed to focus almost entirely on achieving price stability.
B)would force the Fed to rely entirely on interest rate targets.
C)would force the Fed to keep the unemployment rate below 5%.
D)place the Secretary of the Treasury on the Board of Governors.

Question

Quizplus · Accepted Answer

The bill introduced by Senator Connie Mack in 1995 would force the Fed to focus almost entirely on achieving price stability. The bill was called the Federal Reserve Accountability and Transparency Act and was aimed at reducing inflation by focusing the Fed's attention on maintaining price stability. The bill did not pass, but it did generate discussion about the role of the Fed in controlling inflation.

In 1995, Then Senator Connie Mack of Florida Introduced a Bill