Rein in the Federal Reserve Act

The Rein in the Federal Reserve Act requires the Federal Reserve to provide detailed reports to Congress for major monetary programs like quantitative easing or emergency lending. It mandates quarterly updates including the program's rationale, projected financial impacts (such as money supply changes and taxpayer risks), and a specific 3-year exit plan. The bill limits such programs to one year without explicit congressional approval and treats them as "standing programs" subject to automatic congressional disapproval under existing law. This directly affects the Federal Reserve Board’s operations and requires greater transparency for Congress.