... the Federal Reserve Accountability and Transparency Act of 2014.” H.R. 5018 would, as Mr. Taylor describes it in his Web log, require the Fed to adopt a “rules-based policy.” The Fed would make the rules. It would then have to submit them to Congress, and be transparent about whether it is following them. ...

... The measure is all the more significant for the fact that it is part of the wider ferment going in in the 113th Congress over monetary policy. ... Among measures we’re watching:

Centennial Monetary Commission Act, or H.R. 1176, which is being nursed by the chairman of the House-Senate Jooint Economic Committee, Congressman Kevin Brady, to examine monetary policy since the creation, a century ago, of the Federal Reserve;

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