Hearing Entitled: Revisiting the Treasury-Fed Accord

The GOP Financial Services task force held a hearing on March 19, 2026, titled "Revisiting the Treasury-Fed Accord," to discuss the evolving relationship between the Department of the Treasury and the Federal Reserve, particularly in light of rising national debt and monetary policy challenges. Expert witnesses testified on the need for a potential new accord to clarify the roles and responsibilities of the Treasury and the Fed, emphasizing the importance of Fed independence, fiscal discipline, and clear communication between the two institutions. Key procurement-related topics included the Fed's balance sheet management, quantitative easing, and emergency lending programs, with discussions on whether some responsibilities should shift from the Fed to the Treasury. The hearing also addressed the risks of fiscal dominance, the impact of government spending on inflation, and the importance of congressional involvement in any updated accord. No specific contract awards or procurement decisions were made, but policy considerations discussed could influence future fiscal and monetary operations.