No. But, as John Taylor alerted us in his blog, a new bill has been introduced that would have this effect, if passed. I presume that this is one of those bills that no-one expects to pass, but is put before it to stimulate debate. Debate is always a good idea, but even a tiny chance that it might actually pass is a cause for concern.
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Should Congress legislate so that the Fed is…
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No. But, as John Taylor alerted us in his blog, a new bill has been introduced that would have this effect, if passed. I presume that this is one of those bills that no-one expects to pass, but is put before it to stimulate debate. Debate is always a good idea, but even a tiny chance that it might actually pass is a cause for concern.