The Federal Reserve's primary monetary policy-making body is the

Question

Quizplus · Accepted Answer

The Federal Open Market Committee (FOMC) is responsible for setting monetary policy in the United States. It is made up of members of the Federal Reserve Board of Governors, as well as presidents of Federal Reserve Banks. The FOMC sets the target federal funds rate, which is the interest rate at which depository institutions lend and borrow overnight funds with each other. Its decisions have major implications for the economy, including influencing borrowing costs for businesses and consumers, as well as the overall level of economic activity.

The Federal Reserve's Primary Monetary Policy-Making Body Is the