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H.R. 2543, Federal Reserve Racial and Economic Equity Act (CBO Report for Congress)

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Congress 117th
Date Requested April 21, 2021
Requested By House Committee on Financial Services
Date Sent May 26, 2021
Description:
The bill would Task the Board of Governors of the Federal Reserve with conducting its work in way that fosters the elimination of racial and ethnic disparities in certain financial and economic areas Require the inclusion of discussion of racial disparities and efforts to reduce them in semi-annual Congressional testimony and report Estimated budgetary effects would mainly stem from Additional operating costs for the Federal Reserve, resulting in lower remittances from the Federal Reserve to the Treasury, which are recorded as revenues Areas of significant uncertainty include Anticipating the extent to which new hiring or other costs would be incurred  

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