The paper money issued by the U.S. government is (A) the equivalent of a U.S. Treasury security. (B) backed by silver. (C) backed by gold. (D) a fiat currency. (E) a commodity currency. Which group is responsible for determining and implementing the Federal Reserve's monetary policy? (A) Federal Reserve Thrift Advisory Councils (B) Secretary of the Treasury (C) Federal Open Market Committee (D) Office of Management and Budget (E) Council of Economic Advisors