The primary responsibility of the Federal Open Market Committee (FOMC) is to
A) set monetary policy
B) supervise and examine member banks.
C) guarantee excess reserves to National Banks.
D) enforce margin requirements Use this data to answer questions 4-6:
Total Reserves $80,000,000; Reserve Requirement 5%; Total Deposits $700,000,000.

Question

Quizplus · Accepted Answer

The FOMC is primarily responsible for setting monetary policy, which includes managing interest rates and controlling the money supply to achieve economic goals.

The Primary Responsibility of the Federal Open Market Committee (FOMC)