Project 2025 Tracker / What’s done, what’s next

24. Federal Reserve · Major · Needs Congress

Abolish the Federal Reserve and move to free banking

Not started

736 24. Federal Reserve

“Free Banking. In free banking, neither interest rates nor the supply of money is controlled by the government. The Federal Reserve is effectively abolished, and the Department of the Treasury largely limits itself to handling the government’s money.”

What has happened

  1. Not started

    No bill to abolish the Federal Reserve has passed either chamber and no executive action has moved toward free banking. The Federal Reserve Board Abolition Act (H.R. 1846, S. 869) was introduced on 2025-03-05 and referred to committee, where it has stayed. Nothing in the Federal Register, the White House presidential-actions listing, or the 119th Congress record proposes ending government control of interest rates or the money supply.

    No action found yet. This entry is the starting point, not a finding.

Research log

What was searched, and what didn’t count as evidence

Research notes

Searched 2026-08-27. Nothing found, so the Status is not started; the searches are recorded in docs/research/ch-24.md.

Leads (recorded here, not as Evidence, because nothing has happened to them):

  • Federal Reserve Board Abolition Act, H.R. 1846 and S. 869, both introduced 2025-03-05 and referred to the House Financial Services and Senate Banking committees respectively. Introduction by a member is not a step by a chamber (playbook §3), so it does not move the Status. The congress.gov pages refuse automated fetches; the Corpus record for each is 119-HR-1846 / 119-S-869 in bills.ndjson.
  • The Federal Reserve continued normal operations throughout the window — it appears throughout the Federal Register as a rulemaking agency (capital rules, the large financial institution rating system, reputation-risk prohibitions) and filed its statutory reports to Congress.
Action
abolish
Object
Federal Reserve System
ID
2017