Price Stability Act of 2026

This legislative proposal aims to significantly alter the operational framework of the Federal Reserve System by amending the Federal Reserve Act. Specifically, it seeks to eliminate the requirement for the Board of Governors and the Federal Open Market Committee to consider maximum employment as one of their primary objectives. Currently, the Federal Reserve operates under a "dual mandate" to promote both maximum employment and stable prices. This bill would revise Section 2A of the Federal Reserve Act, effectively narrowing the Federal Reserve's focus to a single mandate of maintaining stable prices only. The proposed change would remove the employment objective from the central bank's statutory responsibilities, potentially shifting its policy priorities.