Which of the following statements about the Federal Reserve Bank is most accurate?
A. The Fed is an agency of the U.S. Treasury Department that is responsible for collecting tax receipts for the IRS.
B. Monetary policy is established by the Federal Open Market Committee.
C. The Fed directly influences inflation within the economy.
D. The Fed is the agency of the government that ensures the U.S. maintains enough gold reserves to pay any foreign debts that result from international trade.