Representatives Kevin Brady (R-TX) and Barney Frank (D-MA) testified on their differing legislative proposals to reform the Federal Reserve System. Representative Brady’s version included getting rid of the dual mandate of the Federal Reserve and allowing all 12 regional presidents to have a permanent vote in setting monetary policy, and would have the Federal Reserve monitor prices, specifically with the price of gold. Representative Frank’s bill would make Federal Reserve regional bank presidents more diverse and regional banks presidents would have to be confirmed by the Senate and president.