Which of the following entities is responsible for setting interest rates in the United States?

Question

Quizplus · Accepted Answer

The Federal Reserve Board (also known as the Fed) is responsible for setting interest rates in the United States. They use monetary policy tools such as adjusting the federal funds rate to impact the economy and control inflation. Congress, the Congressional Budget Office, the Executive Office of the President, and the Office of Management and Budget may have some influence on economic policy, but they do not have direct control over setting interest rates.

Which of the Following Entities Is Responsible for Setting Interest