The Federal Reserve (Fed) is the subject of legislation being considered in the 115th Congress. This report analyzes Fed bills that have seen committee or floor action and the policy debate surrounding them. The bills contain wide-ranging changes that can be grouped into five broad categories: Fed governance, oversight and disclosure, monetary policy rules (the Taylor Rule), the Fed's emergency lending powers, and the Fed's balance sheet.

This report provides background on the Islamic State organization, discusses its goals, operations, and affiliates, reviews U.S. legislative and policy debates, and reviews relevant legislation from the 114th and 115th Congresses.