To amend the Federal Reserve Act to establish requirements for policy rules and blackout periods of the Federal Open Market Committee, to establish requirements for certain activities of the Board of Governors of the Federal Reserve System, and for other purposes.

Federal Reserve Accountability and Transparency Act of 2014 - Amends the Federal Reserve Act (FRA) to direct the Chairman of the Federal Open Market Committee (FOMC) to submit to the Comptroller General (GAO) and to certain congressional committees a Directive Policy Rule (DPR), including an identification of FOMC members who voted in its favor. Defines DPR as a policy rule developed...