The responsibility for monetary policy in the United States lies with

A) the president.
B) the presidents of the Federal Reserve Banks.
C) the chairman of the Board of Governors of the Federal Reserve System.
D) the Board of Governors of the Federal Reserve System.
E) both the president and the chairman of the Federal Reserve Board of Governors.

Monetary Policy

The process by which a central bank, currency board, or regulatory authority manages the money supply to achieve specific goals such as controlling inflation, maintaining employment, and stabilizing the currency.

Federal Reserve System

The central banking system of the United States, which oversees the nation's monetary policy, regulates banks, maintains financial stability, and provides financial services.

Board of Governors

An executive or administrative arm of an organization or system, often responsible for making key decisions and overseeing operations.