The part of the federal government responsible for monetary policy is ________.

Question

Quizplus · Accepted Answer

The Federal Reserve System, commonly known as "the Fed," is responsible for implementing monetary policy in the United States. It is an independent government agency that operates with a dual mandate of promoting maximum employment and stable prices. The Fed uses various tools, such as adjusting interest rates and controlling the money supply, to influence economic activity and steer the economy towards its goals. Congress, the U.S. Treasury, and the president also have roles in shaping economic policy, but monetary policy specifically falls under the jurisdiction of the Federal Reserve.

The Part of the Federal Government Responsible for Monetary Policy