What are the two policy-making bodies of the Federal Reserve?
A) the Board of Governors and the U.S. Congress
B) the Board of Governors and the Federal Open Market Committee
C) the Board of Governors and the Presidents' office
D) the Federal Open Market Committee and the U.S. Congress

Question

Quizplus · Accepted Answer

The two policy-making bodies of the Federal Reserve are the Board of Governors and the Federal Open Market Committee (FOMC). The FOMC is responsible for conducting monetary policy by setting interest rates and deciding on other monetary policy actions, while the Board of Governors provides general guidance and oversight of the Federal Reserve System as a whole. The U.S. Congress has oversight responsibilities for the Fed, but it is not a policy-making body of the institution. The Presidents' office does not have any policy-making responsibilities within the Federal Reserve system.

What Are the Two Policy-Making Bodies of the Federal Reserve