In the United States, monetary policy is controlled by:
A) the President.
B) the Congress.
C) the Federal Reserve.
D) the Treasury Department.

Question

Quizplus · Accepted Answer

Monetary policy is controlled by the Federal Reserve, which is an independent agency established by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. The President and the Congress have some influence over monetary policy through the appointment of Federal Reserve Board members and the enactment of laws affecting the Federal Reserve's responsibilities, but day-to-day monetary policy decisions are made by the Federal Open Market Committee (FOMC), which is composed of members of the Federal Reserve's Board of Governors and Reserve Bank presidents.

In the United States, Monetary Policy Is Controlled By