ROI of the Federal Reserve Act

This bill (S 1647) requires the Federal Reserve Board and its banks to submit two new annual reports to Congress: one analyzing how Fed policies impact the middle class's economic health, and another tracking how Fed actions since 2000 affected small business lending availability. It also restricts the Fed from purchasing Treasury bills with maturities over 3 years, mortgage-backed securities, or holding newly acquired common stock after enactment. The bill mandates that all Fed financial filings follow standard accounting principles (GAAP) and use mark-to-market valuations for financial estimates. These changes directly affect the Federal Reserve's operational rules and reporting obligations, altering how it manages its portfolio and communicates its economic impact.