Bar the Federal Reserve from favoring particular asset classes
What the document says“Reserve should be prohibited from picking winners and losers among asset classes.”
The chapter says this above all means limiting intervention in the mortgage-backed securities market, and also eliminating intervention in corporate and municipal debt markets. It calls the mortgage activities a paradigmatic case of what monetary policy should not do, noting home prices rose 42 percent between February 2020 and August 2022.
What the document actually says“Reserve should be prohibited from picking winners and losers among asset classes.”
The Fed should not be allowed to pick winners among assets.
The Fed buys some kinds of debt and not others. That helps those markets. The book says it should not choose favorites.
Read against the documents indexed here on August 26, 2026, and nothing was found that answers this. Nothing indexed limits what the Federal Reserve may buy or bars it from the mortgage-backed, corporate or municipal debt markets. The candidates do not touch the central bank: PL 119-5 disapproves an Internal Revenue Service rule on digital asset brokers, PL 119-47 disapproves a Bureau of Land Management plan for the National Petroleum Reserve in Alaska, and EO 14267 directs agencies to review regulations that restrict competition. That is a record of a search, not a finding that nothing has happened: an act this site does not hold, or one that answers the proposal in words unlike its own, would not be caught by it.