§ 225a. — Maintenance of long run growth of monetary and credit aggregates.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC225a]
TITLE 12--BANKS AND BANKING
CHAPTER 3--FEDERAL RESERVE SYSTEM
SUBCHAPTER I--DEFINITIONS, ORGANIZATION, AND GENERAL PROVISIONS
AFFECTING SYSTEM
Sec. 225a. Maintenance of long run growth of monetary and credit
aggregates
The Board of Governors of the Federal Reserve System and the Federal
Open Market Committee shall maintain long run growth of the monetary and
credit aggregates commensurate with the economy's long run potential to
increase production, so as to promote effectively the goals of maximum
employment, stable prices, and moderate long-term interest rates.
(Dec. 23, 1913, ch. 6, Sec. 2A, as added Pub. L. 95-188, title II,
Sec. 202, Nov. 16, 1977, 91 Stat. 1387; amended Pub. L. 95-523, title I,
Sec. 108(a), Oct. 27, 1978, 92 Stat. 1897; Pub. L. 100-418, title III,
Sec. 3005(c), Aug. 23, 1988, 102 Stat. 1375; Pub. L. 106-569, title X,
Sec. 1003(a), Dec. 27, 2000, 114 Stat. 3028.)
Codification
Another section 202 of Pub. L. 95-188 amended section 302 of this
title.
Amendments
2000--Pub. L. 106-569 struck out provisions after first sentence
relating to annual reports to Congress, transmittal of reports to
Congressional Committees, consultations with Committees, report of
Committee, changing conditions affecting achievement of objectives and
plans, and explanation for deviations from objectives and plans.
1988--Pub. L. 100-418 inserted ``, including an analysis of the
impact of the exchange rate of the dollar on those trends'' after ``the
Nation'' in cl. (1).
1978--Pub. L. 95-523 substituted provisions relating to independent
written reports of the Board of Governors to the Congress for provisions
relating to the consultations of the Board of Governors with Congress at
semi-annual hearings, substituted ``the objectives and plans with
respect to the ranges'' for ``such ranges'', inserted ``of the monetary
and credit aggregates disclosed in the reports submitted under this
section'' after ``growth or diminution'', and inserted proviso
respecting the inclusion of an explanation of reasons for revisions or
deviations in subsequent consultations and reports.
Effective Date of 1978 Amendment
Section 108(b) of Pub. L. 95-523 provided that: ``The amendment made
by subsection (a) [amending this section] takes effect on January 1,
1979.''
