S. 869, also known as the "Federal Reserve Board Abolition Act," proposes to eliminate the Board of Governors of the Federal Reserve System and all Federal reserve banks one year after the act becomes law. It seeks to repeal the Federal Reserve Act and outlines a plan for managing and...
Simple Explanation
Imagine if a big group of people called the Federal Reserve, who help look after the country's money and banks, were asked to leave and their job would stop. This bill says they should stop working and another person would make sure everything is okay and that nothing important is left undone.