What three tools does the Federal Reserve have at its disposal to control the money supply? Federal Advisory Council, Discount Rate and Reserve Requirement Federal Open Market Operations, Discount Rate, Reserve Requirement Prime Rate, Fed Funds Target Rate and Reserve Requirement None of the above All the above Question 2 The tool used the most by the Federal Reserve to control money supply is the Federal Advisory Council because it is considered the most efficient and the non-harshest/blunt of instruments the Fed has at its disposal. True False