US HB5499

Prohibits members of the Federal Reserve Board of Governors from simultaneously holding any other position appointed by the President, including while on leave of absence

Extends the same dual-appointment prohibition to presidents of Federal Reserve banks and the first vice president of the Federal Reserve Bank of New York

Automatically terminates any current Fed governors, regional bank presidents, or the NY Fed first vice president who hold conflicting presidential appointments upon enactment

Amends the Federal Reserve Act (12 U.S.C. 241 and 12 U.S.C. 341) to codify these restrictions

Expresses Congress's sense that presidential appointees—whether on leave or not—should not serve on the Federal Reserve Board of Governors