Fed must talk to the public every 8 weeks, not four times yearly
S. 3476 — Fed Forward Act of 2025 · Filed by Ruben Gallego (D-AZ) · 1 cosponsor · Introduced Dec 15, 2025 · Referred to committee
Your members of Congress
Enter a ZIP to see where your representative and both senators stood on this bill.
Looked up on this device — your ZIP is never stored on our servers.
What it does
This bill requires the Federal Reserve to communicate more frequently and transparently with the public. It mandates policy statements and press conferences after every meeting (instead of four times yearly), releases meeting minutes within 21 days, and requires the Fed to conduct public reviews of its monetary policy framework every 5 years and publish financial stability assessments every 6 months.
Why we flagged it
The bill's core mechanism is a straightforward increase in mandatory public disclosure and communication frequency by the Federal Reserve. It codifies existing informal practices into law and adds new reporting requirements, all aimed at transparency and accountability.
What the text implies
- More frequent Fed communications may increase market volatility if investors over-interpret interim statements or read policy shifts into routine updates.
- The 5-year monetary policy framework review may create pressure on the Fed to justify or defend its existing approach, potentially constraining policy flexibility.
- Biannual financial stability reports could trigger market reactions if they signal systemic risks, creating a feedback loop between disclosure and financial conditions.
- Codifying communication practices into statute may reduce the Fed's ability to adapt communication strategy to future crises or economic conditions without legislative amendment.
Section numbers refer to the bill text the analysis read — linked under Primary records below.
Who it affects
Citizens and businesses gain more frequent, timely information about Federal Reserve decisions and economic assessments, enabling better-informed financial and economic decisions. Increased transparency and accountability of a powerful unelected institution strengthens democratic oversight and public trust.
Named in the bill
Federal Reserve System, Board of Governors, Federal Open Market Committee (FOMC), Federal Reserve Act
Where it stands
1 cosponsor: 1 Republicans.
- Dec 15, 2025 — Introduced · Congress.gov: “Introduced in Senate”
- Dec 15, 2025 — Referred to Senate Committee on Banking, Housing, and Urban Affairs · Congress.gov: “Read twice and referred to the Committee on Banking, Housing, and Urban Affairs”
Dates and quoted wording are Congress.gov's action record; the timeline shows status changes, not every procedural step.
How this was measured
Analysis — Quorum's AI read the bill text published by Congress.gov (3,374 characters) on Aug 29, 2026. Section numbers in the findings refer to that text, linked below; transparency and hidden-provision scores are compared against the median of 16,222 analysed bills.
Status and sponsors — Congress.gov's bill record — actions, committee referrals and cosponsors — loaded nightly. The timeline shows status changes, not every procedural action.
As of — page rendered 2026-10-20.
“Fed must talk to the public every 8 weeks, not four times yearly” QuorumCivic. https://share.quorumcivic.app/bill/119/s3476 Report an error
The week in bills
One email, Sunday: what Congress passed, what it changed, and who paid.
One link arrives to confirm the address. It is used for this email and nothing else, and every issue carries an unsubscribe link.