Respect for Workers Act

12/16/2023, 12:47 PM

Respect for Workers Act

This bill requires at least one member of the Board of Governors of the Federal Reserve System to have experience supporting or protecting the rights of workers. This member is in charge of developing policy recommendations regarding the board's goal of maximum employment. (The board is made up of seven members that are nominated by the President and confirmed by the Senate. Members serve 14-year terms, with one term beginning every two years.)

The bill also requires the board to discuss in their semiannual report the distributional effect of monetary policy.

Congress
118
Number
S - 496
Introduced on
2023-02-16
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

2/16/2023
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Respect for Workers Act

This bill requires at least one member of the Board of Governors of the Federal Reserve System to have experience supporting or protecting the rights of workers. This member is in charge of developing policy recommendations regarding the board's goal of maximum employment. (The board is made up of seven members that are nominated by the President and confirmed by the Senate. Members serve 14-year terms, with one term beginning every two years.)

The bill also requires the board to discuss in their semiannual report the distributional effect of monetary policy.

Alternative Names
Official Title as IntroducedA bill to amend the Federal Reserve Act to reaffirm the importance of workers.
Policy Areas
Finance and Financial Sector

Comments

Related

Bill Update Alert:  Respect for Workers Act

Recent Activity

Latest Summary3/31/2023

Respect for Workers Act

This bill requires at least one member of the Board of Governors of the Federal Reserve System to have experience supporting or protecting the rights of workers. This member is in charge of develop...

Latest Action2/16/2023
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S459)