Transparency in Communication

Section 12A of the Federal Reserve Act (12 U.S.C. 263) is amended— (1) in subsection (a), in the fifth sentence, by striking at least four times each year and inserting once every 8 weeks, or more often as needed,; and (2) by adding at the end the following: (d) (1) On the day of each meeting described in the fifth sentence of subsection (a), the Committee shall release to the public a policy statement containing information on the current state of the economy and how it relates to monetary policy and the level of the Federal funds target range, and shall hold a press conference, during which the Chair, or an individual delegated by the Chair, shall be available to answer questions. (2) Not later than 21 days after the conclusion of each meeting described in paragraph (1), the Committee shall release the minutes of the meeting to the public..