Which of the following is not one of the four major policy tools the Fed has for controlling the growth in the supply of money and credit?

A) Reserve requirements
B) Check clearing
C) The discount rate
D) Open market operations

Check clearing is not a tool for controlling the growth of money and credit supply; it is a service provided by the Federal Reserve to facilitate the exchange of payments among banks. The other options (reserve requirements, the discount rate, and open market operations) are indeed major policy tools used by the Fed to influence the money supply and credit conditions.