Most of the day-to-day power in monetary policy decisions lies with
A) the President of the United States
B) large commercial banks
C) the Senate Banking Committee
D) the chairman of the Board of Governors

Question

Quizplus · Accepted Answer

The chairman of the Board of Governors has the most power in day-to-day monetary policy decisions as they lead the Federal Reserve and are responsible for implementing policy decisions made by the Federal Open Market Committee. The President, large commercial banks, and the Senate Banking Committee can all have some influence on monetary policy, but they do not have the same direct control and decision-making authority as the chairman of the Board of Governors.

Most of the Day-To-Day Power in Monetary Policy Decisions Lies