Monetary policy is associated with the actions of the central bank as well as other regulatory agencies that are responsible to determine the rate of growth and size of the money supply.
The Federal Reserve System is the main agency which determines and implements the monetary policy in the United States. The U.S. Federal Reserve System was established by the Federal Reserve Act in the year 1913. This system is a quasi-public institution.
The most likely effect of the Federal Reserve lowering the discount rate on overnight<span> ... rate is the rate which banks charge one another for </span>overnight loans<span> used to .</span>
