House passes bill calling for rule-based monetary policy

Section:

By Jason Lange and David Lawder
Reuters
Thursday, November 11, 2015

WASHINGTON -- The U.S. House of Representatives on Thursday approved a bill that would make the Federal Reserve set interest rate policy using a mathematical rule, a proposal that has little chance of becoming law given a White House veto threat.

The House approved the Fed Oversight Reform and Modernization Act in a 241 to 185 vote thanks to overwhelming Republican support.

The bill is a sign of the deep suspicion many Republican lawmakers hold against the U.S. central bank, which played a major role in America's policy response to fight the 2007-09 recession. ...

... For the remainder of the report:

http://www.reuters.com/article/2015/11/19/us-usa-fed-house-idUSKCN0T82HD...



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