The part of the Federal Reserve System responsible for setting the required reserve ratio is the

Question

Quizplus · Accepted Answer

The Board of Governors is responsible for setting the required reserve ratio, which is the percentage of deposits that banks must hold in reserve. The Board of Governors has the authority to change this ratio in order to stimulate or slow down the economy. The other options, such as the Federal Open Market Committee, the Federal Reserve Banks, and the Advisory Council, have different responsibilities within the Federal Reserve System.

The Part of the Federal Reserve System Responsible for Setting