Bretton Woods Agreements Act

Bretton Woods Agreements Act (1945)

1) Link to the Text of the Act
Read the statute (22 U.S.C. §§ 286–286mm)

2) Why It Was Done
Enacted to approve U.S. participation in the Bretton Woods Conference agreements of 1944, which created the International Monetary Fund (IMF) and the World Bank. The goal was to stabilize exchange rates, promote international trade, and rebuild the global economy after World War II.

3) Pre-existing Law or Constitutional Rights
Before this Act, the U.S. had no formal role in a permanent international monetary system. The Constitution gave Congress authority over money and treaties, but this Act delegated substantial power to the executive branch in international finance.

Acts

Employment Act

Employment Act (1946)

1) Link to the Text of the Act
Read the statute (15 U.S.C. §§ 1021–1022)

2) Why It Was Done
Passed after World War II to ensure economic stability, the Act declared it the policy of the federal government to promote maximum employment, production, and purchasing power. It aimed to prevent another depression and manage the postwar economic transition.

3) Pre-existing Law or Constitutional Rights
Before this Act, there was no statutory requirement for the federal government to pursue full employment or economic growth. The Act was based on Congress’s powers under the Commerce Clause.