Right-size the Federal Reserve Act

This bill, S 2410 (Right-size the Federal Reserve Act), directly affects the Federal Reserve System by imposing new limits on its operations. It requires the Federal Reserve to cap its total assets at 10% of U.S. GDP (effective 10 years after enactment) and eliminates the Overnight Reserve Repurchase Facility within one year of the bill's passage. The bill also mandates annual reports to Congress detailing foreign-owned bank interest payments and the Fed's plan for meeting these new requirements. These changes aim to restrict the Fed's balance sheet size and specific lending tools without altering monetary policy authority.