Full Employment and Balanced Growth Act of 1978
E47400
The Full Employment and Balanced Growth Act of 1978, also known as the Humphrey–Hawkins Act, is a U.S. law that set national goals for full employment, price stability, and economic growth while formalizing the Federal Reserve’s responsibility for monetary policy reporting and objectives.
All labels observed (5)
How this entity was disambiguated
This entity first appeared as the object of triple T374848 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
Target entity: Full Employment and Balanced Growth Act of 1978 Context triple: [Federal Reserve Act of 1913, amendedBy, Full Employment and Balanced Growth Act of 1978]
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A.
Economic Opportunity Act of 1964
The Economic Opportunity Act of 1964 was a landmark U.S. federal law that launched key anti-poverty programs such as Job Corps, Head Start, and community action agencies as part of President Lyndon B. Johnson’s War on Poverty.
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B.
Employment Act of 1946
The Employment Act of 1946 is a landmark U.S. federal law that established the government's responsibility to promote maximum employment, production, and purchasing power, laying the foundation for modern macroeconomic policy and creating the Council of Economic Advisers.
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C.
Housing and Community Development Act of 1974
The Housing and Community Development Act of 1974 is a major U.S. federal law that restructured housing assistance and created the Community Development Block Grant program to support local community development and affordable housing.
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D.
Public Law 93-198
Public Law 93-198 is the 1973 federal statute that granted the District of Columbia limited home rule, establishing an elected mayor and city council while retaining certain congressional oversight.
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E.
Fair Labor Standards Amendments of 1977
The Fair Labor Standards Amendments of 1977 were U.S. federal legislative changes that updated wage and hour protections, including raising the minimum wage and expanding coverage under the Fair Labor Standards Act.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
Target entity: Full Employment and Balanced Growth Act of 1978 Target entity description: The Full Employment and Balanced Growth Act of 1978, also known as the Humphrey–Hawkins Act, is a U.S. law that set national goals for full employment, price stability, and economic growth while formalizing the Federal Reserve’s responsibility for monetary policy reporting and objectives.
-
A.
Economic Opportunity Act of 1964
The Economic Opportunity Act of 1964 was a landmark U.S. federal law that launched key anti-poverty programs such as Job Corps, Head Start, and community action agencies as part of President Lyndon B. Johnson’s War on Poverty.
-
B.
Employment Act of 1946
The Employment Act of 1946 is a landmark U.S. federal law that established the government's responsibility to promote maximum employment, production, and purchasing power, laying the foundation for modern macroeconomic policy and creating the Council of Economic Advisers.
-
C.
Housing and Community Development Act of 1974
The Housing and Community Development Act of 1974 is a major U.S. federal law that restructured housing assistance and created the Community Development Block Grant program to support local community development and affordable housing.
-
D.
Public Law 93-198
Public Law 93-198 is the 1973 federal statute that granted the District of Columbia limited home rule, establishing an elected mayor and city council while retaining certain congressional oversight.
-
E.
Fair Labor Standards Amendments of 1977
The Fair Labor Standards Amendments of 1977 were U.S. federal legislative changes that updated wage and hour protections, including raising the minimum wage and expanding coverage under the Fair Labor Standards Act.
- F. None of above. chosen
Statements (73)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
employment policy law ⓘ macroeconomic policy law ⓘ |
| alsoKnownAs |
Full Employment and Balanced Growth Act of 1978
ⓘ
surface form:
Humphrey-Hawkins Full Employment Act
Humphrey–Hawkins Act ⓘ |
| amends | Employment Act of 1946 ⓘ |
| chamberOfOrigin | United States House of Representatives ⓘ |
| codifiedIn | Title 15 of the United States Code ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| creates | semiannual Humphrey–Hawkins testimony ⓘ |
| dateSigned | 1978-10-27 ⓘ |
| emphasizes |
use of fiscal policy to achieve national economic goals
ⓘ
use of monetary policy to achieve national economic goals ⓘ |
| establishes |
national employment goals
ⓘ
national price stability goals ⓘ national production goals ⓘ national real income goals ⓘ |
| focusesOn |
coordination of monetary and fiscal policy
ⓘ
reduction of cyclical unemployment ⓘ reduction of structural unemployment ⓘ |
| formalizesRoleOf |
Federal Reserve Board of Governors
ⓘ
surface form:
Board of Governors of the Federal Reserve System
Federal Open Market Committee ⓘ |
| goalHorizon | five-year economic planning horizon ⓘ |
| historicalContext | post-1970s stagflation in the United States ⓘ |
| includesProvision |
backup public employment programs if private sector cannot provide enough jobs
ⓘ
job training and placement assistance ⓘ priority to private sector employment growth ⓘ public service employment programs as a tool to achieve full employment ⓘ |
| influenced |
Congressional oversight of monetary policy
ⓘ
Federal Reserve communication practices ⓘ |
| jurisdiction |
United States government
ⓘ
surface form:
federal government of the United States
|
| legislativeBody | United States Congress ⓘ |
| namedAfter |
Augustus F. Hawkins
ⓘ
Hubert H. Humphrey ⓘ |
| obligates |
President of the United States to propose policies to meet employment and inflation goals
ⓘ
Economic Report of the President ⓘ
surface form:
President of the United States to set medium-term economic goals
President of the United States to specify numerical goals for unemployment and inflation ⓘ President of the United States to submit an annual economic plan to Congress ⓘ |
| otherChamber | United States Senate ⓘ |
| policyArea |
employment policy
ⓘ
fiscal policy ⓘ macroeconomic policy ⓘ monetary policy ⓘ |
| presidentAtSigning | Jimmy Carter ⓘ |
| primaryObjective |
balanced economic growth
ⓘ
balanced federal budget ⓘ full employment ⓘ price stability ⓘ |
| publicLawNumber | Public Law 95-523 ⓘ |
| relatedTo |
Federal Reserve monetary policy framework
ⓘ
United States anti-inflation policy ⓘ United States full employment policy ⓘ |
| reportingTo |
House Committee on Financial Services
ⓘ
Senate Committee on Banking, Housing, and Urban Affairs ⓘ |
| requires |
Federal Reserve Chair to testify before Congress twice a year
ⓘ
Federal Reserve to provide semiannual monetary policy reports ⓘ Federal Reserve to report monetary policy objectives to Congress ⓘ federal government to pursue balanced growth ⓘ federal government to pursue full employment ⓘ federal government to pursue price stability ⓘ federal government to reduce inflation ⓘ federal government to reduce unemployment ⓘ |
| setsTarget |
inflation rate of 0 percent by 1988
ⓘ
unemployment rate not exceeding 3 percent for persons aged 20 or over ⓘ unemployment rate not exceeding 4 percent overall ⓘ |
| shortTitle |
Full Employment and Balanced Growth Act of 1978
self-linksurface differs
ⓘ
surface form:
Full Employment and Balanced Growth Act
Humphrey–Hawkins Act ⓘ |
| signedBy | Jimmy Carter ⓘ |
| sponsorInHouse | Augustus F. Hawkins ⓘ |
| sponsorInSenate | Hubert H. Humphrey ⓘ |
| status | in force ⓘ |
| title | Full Employment and Balanced Growth Act of 1978 self-link ⓘ |
| yearEnacted | 1978 ⓘ |
How these facts were elicited
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Subject: Full Employment and Balanced Growth Act of 1978 Description of subject: The Full Employment and Balanced Growth Act of 1978, also known as the Humphrey–Hawkins Act, is a U.S. law that set national goals for full employment, price stability, and economic growth while formalizing the Federal Reserve’s responsibility for monetary policy reporting and objectives.
Referenced by (16)
Full triples — surface form annotated when it differs from this entity's canonical label.