Congressional Committee to Review Federal Reserve's Rate Decision Process

According to Odaily, a new congressional committee focused on enhancing oversight of the Federal Reserve plans to conduct a comprehensive review of how the Fed makes interest rate decisions. This includes examining whether controlling inflation should take precedence over ensuring employment. U.S. Republican Representative Frank Lucas stated, "Many of my colleagues and the chair on the Financial Services Committee want to discuss this issue." The first hearing of the Special Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity is scheduled for next week. The committee will address questions regarding the dual mandate and its impact on prioritizing price stability.