Summary: H.J.Res.319 — 97th Congress (1981-1982)All Information (Except Text)

There is one summary for H.J.Res.319. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (09/09/1981)

Directs the President to immediately begin consultation with the Board of Governors of the Federal Reserve System for the purpose of modifying the Board of Governors' monetary policy to significantly reduce interest rates within the next 90 days.

Requires such consultations to include modifications in the areas of: (1) reserve requirements; (2) Federal Open Market Committee activities; and (3) the federal Reserve discount rate; and (4) preventing diversion of substantial sums of available credit and capital for nonproductive purposes.