Effects of the Federal Reserve's Monetary Policy on the Financial Institutions and Markets Changes in the Federal Reserve's monetary policy have been directly affecting the US. economy that includes the financial institutions and markets. For this Final Paper, select one large US. financial institution/intermediary (e.g., a commercial bank, an investment bank/company, an insurance company, or any other financial institution) to evaluate how changes in the Federal Reserve's monetary policyexpansionary or contractionary have been affecting the US. financial institutions and markets