The Chairman or ChairLady of the Federal Reserve Bank has the power to personally order an increase in the U.S. money supply. A vote by the Fed's FOMC is not needed in order to increase the nation's money supply. Multiple Choice This is false. This is true only if both the President of the United States and the Chair of the Federal Reserve Bank agree that it would be best to increase the nation's money supply, then the FOMC vote is not needed. None of the above. This is true