Question

The part of the Federal Reserve having the greatest impact on our overall economy is the

Answer 1

Federal Open Market Committee 

Answer 2

The part of the Federal Reserve having the greatest impact on our overall economy is the Federal Open Market Committee.

The Federal Open Market Committee works with the Federal Reserve Board. These members meet often to make sure monetary policy is regulated. Not only do they want the monetary policy to be regulated and be an honest service, they also make sure banks are not being charged astronomical rates for interest.