GOP Lawmaker Introduces Bill to Abolish the Federal Reserve

‘If we really want to reduce inflation, the most effective policy is to end the Federal Reserve.’

The seal of the Federal Reserve Board as its appears outside the Fed's William McChesney Martin Building in Washington on March 13, 2023. Alex Wong/Getty Images

Rep. Thomas Massie (R-Ky.) has introduced legislation to end the Federal Reserve, the U.S. central bank responsible for managing the country’s financial and banking system.

The bill titled the “Federal Reserve Board Abolition Act” or “End the Fed” seeks to abolish the Federal Reserve System by dismantling its board of governors and the Federal Reserve banks. The legislation also aims to repeal the Federal Reserve Act, which created the Federal Reserve System in 1913.