Sound Dollar Act of 2015

The Sound Dollar Act of 2015 proposes to change the Federal Reserve’s "dual mandate" by requiring it to focus primarily on maintaining long-term price stability rather than balancing both inflation and employment goals. To increase transparency, the bill would require the Federal Reserve to publicly define its metrics for price stability, release meeting transcripts within three years, and expand voting power on the Federal Open Market Committee to include all 12 regional bank presidents.

For everyday citizens, these changes are intended to create a more predictable value for the U.S. dollar, which can help protect the purchasing power of savings and provide a more stable environment for long-term financial planning. Additionally, the bill would shift the funding of the Consumer Financial Protection Bureau (CFPB) to the annual congressional appropriations process, giving elected officials direct oversight over the agency’s budget and operations.