The U.S. House Financial Services Committee will create a new Monetary Policy, Treasury Market Resilience and Economic Prosperity Task Force, U.S. Rep. French Hill (R-AR), committee chair, said on Jan. 14.
The Task Force will be led by U.S. Rep. Frank Lucas (R-OK) and will look into monetary policy issues, as well as analyze the role and responsibility of the Federal Reserve and the impact of fiscal and monetary policies on Treasury debt markets, officials said.
“I am delighted to announce the formation of the Monetary Policy, Treasury Market Resilience, and Economic Prosperity Task Force,” Hill said. “For far too long, we have witnessed too many distracting ‘mandates’ diluting the Federal Reserve’s core mission of price stability. The pernicious combination of record inflation and the Biden-Harris spending spree are threatening our families’ prosperity, the status of the U.S. dollar as the globe’s reserve currency, and the conduct of monetary policy.”
Hill said the task force would look at monetary policy to ensure economic stability for the country.
“The Committee’s new Task Force will conduct hearings looking into issues relating to monetary policy, the Federal Reserve’s dual mandate, analyze the role and responsibility of the Federal Reserve, and examine the impact of fiscal and monetary policies on Treasury debt markets,” he said. “I look forward to the Task Force’s Chair, Rep. Frank Lucas, and our members working to craft policies that ensure the U.S. dollar remains the world’s reserve currency and ensure price stability which leads to higher productivity, less uncertainty, and sustained economic prosperity for all Americans.”
Members of the task force include U.S. Reps. Bill Huizenga (R-MI), Andy Barr (R-KY), Marlin Stutzman (R-IN), Scott Fitzgerald (R-WI), Mike Flood (R-NE), Monica De La Cruz (R-TX), and Troy Downing (R-MT).