The committee that advises the Fed on the growth of the money supply and the level of interest rates is the

a. Consumer Advisory Council.

c. Federal Advisory Council.

b. Federal Open Market Committee.

d. Council of Economic Advisers.

The committee that advised the Fed on the growth of the money supply and the level of interest rates is "B", the Federal Open Market Committee.

The Federal Open Market Committee is the branch of the Federal Reserve Board that determines USA monetary policy. It consists of twelve members and holds eight meetings a year. The committee reviews current economic and financial conditions to plot the way forward for the Federal monetary policy. It also assesses the risks to its long-term goals of price stability and sustainable economic growth.