Republicans on the U.S. House Financial Services Committee this week formed the new Monetary Policy, Treasury Market Resilience, and Economic Prosperity Task Force for the 119th Congress, according to committee chairman U.S. Rep. French Hill (R-AR).
“For far too long, we have witnessed too many distracting mandates diluting the Federal Reserve’s core mission of price stability,” Rep. Hill said on Jan. 14. “The pernicious combination of record inflation and the Biden-Harris spending spree are threatening our families’ prosperity, the status of the U.S. dollar as the globe’s reserve currency, and the conduct of monetary policy.
“I am delighted to announce the formation” of this task force, added the committee chairman.
The new task force, which will be led by U.S. Rep. Frank Lucas (R-OK) and members including U.S. Reps. Bill Huizenga (R-MI) and Andy Barr (R-KY), will conduct hearings looking into issues related to monetary policy, the Federal Reserve’s dual mandate, the role and responsibility of the Federal Reserve, and the impact of fiscal and monetary policies on U.S. Treasury Department debt markets, Rep. Hill said.
“I look forward to the task force’s chair, Rep. Frank Lucas, and our members working to craft policies that ensure the U.S. dollar remains the world’s reserve currency and ensure price stability which leads to higher productivity, less uncertainty, and sustained economic prosperity for all Americans,” he added.