This bill seeks to codify modern communication practices and enhance transparency and accountability within the Federal Reserve System, reflecting Congress's view that clear communication strengthens the Fed's ability to achieve its mandated goals. It amends the Federal Reserve Act to require the Federal Open Market Committee (FOMC) to meet and release policy statements every 8 weeks, or more often as needed. Following each meeting, the FOMC Chair, or a delegate, must hold a press conference to answer questions, and the meeting minutes must be released to the public within 21 days. Furthermore, the legislation mandates that the Board of Governors conduct a public review of its monetary policy framework every five years, assessing its strategy, tools, and communication methods. It also requires the Board to prepare and release a Financial Stability Report to the public every 180 days. These provisions are designed to ensure ongoing evaluation of the Fed's operations and provide greater public insight into its economic assessments and decision-making processes.