YourVoice.Now Summary
Workers & JobsKeeping people employed would stop being a goal the Fed must pursue — stable prices would remain.
Workers & Jobs
The bill changes one line in the Federal Reserve Act. It strikes the words “maximum employment” from the Fed's list of goals. The other two goals stay. The Fed would no longer answer for how many people are working.
More about this bill
Your bills and paycheck would not change the day this passed. What changes is the mission the law gives the Federal Reserve, the agency that steers interest rates. Since 1977, the law has told the Fed to aim for three goals at once: maximum employment, stable prices, and moderate long-term interest rates. Maximum employment means keeping as many people in jobs as the economy can support. The Price Stability Act of 2026 would delete that first goal. Two would remain: stable prices and moderate long-term interest rates. Jobs and hiring would no longer be something the Fed must weigh by law. It would keep the same tools, the same leaders, and the same daily work. Any effect on you would arrive slowly, through the rates you pay on a mortgage, car loan, or credit card. The measure has cleared a House committee and awaits a floor vote.
Congressional Summary
Price Stability Act of 2026 This bill removes maximum employment as a goal of the monetary policy set by the Board of Governors of the Federal Reserve System and the Federal Open Market Committee.
Legislative Subjects
Details
- Congress
- 119th
- Chamber
- House
- Status
- summarized
- Action
- Reported to House
- Action Date
- 2026-06-24
- Date Added
- 2026-07-11
- Source
- Congress.gov →
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