Which of the following statements is true about the Federal Reserve Board?
The Fed is the chief social and legislative policy-making arm of the United States.
The Fed is responsible for controlling the supply of money, or monetary policy.
The Fed regulates and sets fair trading policies and acts for American industries.
The Fed is responsible for insuring individual bank accounts to help stop bank failures.
The Fed buys and sells stocks, bonds, and other securities on behalf of the U.S. government.
Answer: The Fed is responsible for controlling the supply of money, or monetary policy.