<P> Monetary policy in the US is determined and implemented by the US Federal Reserve System , commonly referred to as the Federal Reserve . Established in 1913 by the Federal Reserve Act to provide central banking functions , the Federal Reserve System is a quasi-public institution . Ostensibly , the Federal Reserve Banks are 12 private banking corporations ; they are independent in their day - to - day operations , but legislatively accountable to Congress through the auspices of Federal Reserve Board of Governors . </P>
<P> Monetary policy in the US is determined and implemented by the US Federal Reserve System , commonly referred to as the Federal Reserve . Established in 1913 by the Federal Reserve Act to provide central banking functions , the Federal Reserve System is a quasi-public institution . Ostensibly , the Federal Reserve Banks are 12 private banking corporations ; they are independent in their day - to - day operations , but legislatively accountable to Congress through the auspices of Federal Reserve Board of Governors . </P>
what organization sets monetary policy for the united states
what organization sets monetary policy for the united states
US Federal Reserve System
US Federal Reserve System