Anti-CBDC Surveillance State Act

Bill 119 s 1124, also known as the Federal Reserve Transparency and Accountability Act, aims to make significant 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 services such as loans or financial assistance to individual citizens.

Additionally, the bill aims to prohibit the use of central bank currency for monetary policy. This means that the Federal Reserve would no longer be able to manipulate the money supply or interest rates in order to achieve certain economic goals. Instead, the bill would require the Federal Reserve to rely on other tools and mechanisms to regulate the economy.

Overall, the Federal Reserve Transparency and Accountability Act seeks to limit the powers and influence of the Federal Reserve in order to promote greater transparency and accountability in the financial system. The bill has sparked debate among lawmakers and economists, with some arguing that it could have negative consequences for the economy, while others believe it is necessary to prevent potential abuses of power by the Federal Reserve.