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H.R. 5396119th CongressPlaced on the calendarLatest action Jun 24, 2026Decoded by AI · checked against the record
The plain-language version leads. The official text is always the reference.
HR 5396 would remove the Fed's maximum employment goal, leaving stable prices as its main required focus.
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HR 5396, the "Price Stability Act of 2026," would remove the "maximum employment" requirement from the Federal Reserve Act's dual mandate. This would leave stable prices as the Fed's main legally required goal when setting policies like interest rates.
This affects anyone using mortgages, credit cards, business loans, or savings accounts, since Fed policy shapes interest rates and job growth. Workers, businesses, borrowers, savers, and policymakers who rely on the Fed's current dual approach would all see changes.
Without an explicit employment mandate, the Fed's rate decisions could focus more narrowly on controlling inflation, without a required weighing of effects on jobs and unemployment. This could shift how the Fed responds during economic downturns.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: it was placed on the House floor calendar, and the official record shows no floor action on it since. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Placed on the Union Calendar, Calendar No. 616.