Bill 119 HR 1919, also known as the Federal Reserve Transparency and Accountability Act, aims to make changes to the Federal Reserve Act. The bill seeks to prohibit Federal Reserve banks from offering certain products or services directly to individuals. This means that the Federal Reserve would no longer be able to provide certain financial services to individual consumers.
Additionally, the bill aims to prohibit the use of central bank digital currency for monetary policy. This means that the Federal Reserve would not be able to use digital currency as a tool for implementing monetary policy.
Overall, the goal of Bill 119 HR 1919 is to increase transparency and accountability within the Federal Reserve system by limiting the types of products and services that Federal Reserve banks can offer and by restricting the use of digital currency for monetary policy purposes.