The Price Stability Act of 2025 (H.R. 5396) proposes changing the Federal Reserve's responsibilities by removing its current dual mandate. Presently, the Federal Reserve aims to both keep prices stable (control inflation) and achieve maximum employment (ensure as many people as possible have jobs). This bill would eliminate the employment goal, directing the Federal Reserve to focus solely on maintaining stable prices.
Supporters of the bill argue that the Federal Reserve's dual mandate creates conflicting objectives, leading to economic mismanagement. By focusing exclusively on price stability, the Federal Reserve could more effectively control inflation without the distraction of employment considerations. This singular focus is seen as a way to enhance the central bank's effectiveness in maintaining economic stability.
Critics contend that removing the employment mandate could result in the Federal Reserve neglecting job growth, potentially leading to higher unemployment rates. They argue that the dual mandate provides a necessary balance, ensuring that monetary policy supports both stable prices and a healthy labor market. Eliminating the employment focus might disproportionately affect workers in sectors sensitive to economic slowdowns, such as construction and manufacturing.
Based on the available data, there appears to be a low risk of conflict of interest between the sponsor's donors and the subject matter of H.R. 5396: Price Stability Act of 2025. The sponsor, J. Hill, has received substantial donations from Health Professionals and Retired individuals, but there is no direct overlap detected between these industries and the bill's subject matter. Furthermore, the lobbying activity in this bill's policy area does not involve any of the sponsor's top donor industries. While there is considerable lobbying activity, the disclosed amounts are relatively small, with the highest being $350,000 from Hogan Lovells, LLP on behalf of Zhongji Innolight Co., Ltd. It's important for voters to know that while money does play a role in politics, in this case, there doesn't appear to be a direct financial conflict of interest.
Organizations that lobbied on issues related to this bill's policy area.
| Client | Lobbying Firm | Amount |
|---|---|---|
| NATIONAL SHOOTING SPORTS FOUNDATION | NATIONAL SHOOTING SPORTS FOUNDATION | $2,280,000 |
| HOGAN LOVELLS, LLP OBO ZHONGJI INNOLIGHT CO., LTD. | MO STRATEGIES, INC. | $350,000 |
| RADIANCE TECHNOLOGIES, INC. | VENN STRATEGIES | $60,000 |
| MOLNLYCKE HEALTH CARE US, LLC | MOLNLYCKE HEALTH CARE US, LLC | $30,000 |
| CLARK STREET ASSOCIATES ON BEHALF OF MARVELL TECHNOLOGY, INC. | HOLLAND & KNIGHT LLP | $30,000 |
| NANO NUCLEAR ENERGY INC | COVE STRATEGIES | $20,000 |
| CITY OF KOTZEBUE, ALASKA | HOLLAND & HART LLP | $10,000 |
| SPACE GOVERNANCE INSTITUTE, INC. | SPACE GOVERNANCE INSTITUTE, INC. | undisclosed |
| MCKEES ROCKS COMMUNITY DEVELOPMENT CORPORATION | CRANMER CONSULTANTS | undisclosed |
| LYTEN, INC. | JHS CONSULTING, INC | undisclosed |
| SOCIETY OF INTERVENTIONAL RADIOLOGY | SOCIETY OF INTERVENTIONAL RADIOLOGY | undisclosed |
| PRESERVATION ACTION | PRESERVATION ACTION | undisclosed |
| GOLD PR LTD. (ON BEHALF OF OJSC "BAKAI BANK") | THROUGHLINE GLOBAL ADVISORS | undisclosed |
| WORKIVA INC. | LSN PARTNERS, LLC | undisclosed |
| IMMIGRATION EQUALITY | IMMIGRATION EQUALITY | undisclosed |
Source: Senate Lobbying Disclosure Act (LDA) filings, 2026
Top industries funding J. Hill, ranked by total contributions.
Source: OpenSecrets.org (Center for Responsive Politics)
