The Constitution of the United States grants the power to "coin money and regulate the value thereof" (which is interpreted to mean the power to engage in monetary policy)to

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The power to "coin money and regulate the value thereof" is granted to Congress in Article 1, Section 8 of the Constitution. This power encompasses the authority to engage in monetary policy by controlling the money supply and setting interest rates. The Federal Reserve was created by Congress in 1913 to assist with these functions, but ultimately the power and responsibility lies with Congress. The President and the Treasury Department have limited involvement in monetary policy decisions.

The Constitution of the United States Grants the Power to "Coin