On September 16, U.S. House Financial Services Committee Chairman French Hill (R-AR), along with Reps. Byron Donalds (R-FL) and Marlin Stutzman (R-IN), announced the reintroduction of the Price Stability Act (H.R. 5396). The bill would amend the Federal Reserve Act to eliminate the Fed’s dual mandate of promoting both maximum employment and stable prices, and instead, require the central bank to focus solely on “price stability” (i.e., inflation). The bill’s sponsors contend that the dual mandate has led to competing objectives and contributed to economic mismanagement. The bill is currently in the House Financial Services Committee for consideration.