How do the functions of the Federal Reserve district banks compare to the Federal Open Market Committee?
A. The Federal Open Market Committee sets the discount rate and reserve requirements on banks, while the Federal Reserve district banks overlook the banking industry and implement the policies from the Federal Open Market Committee
B. The Federal Open Market Committee overlooks the banking industry and implement the policies from the Board of Governors, while the Federal Reserve district banks oversee the Federal Open Market Committee and set the target federal funds rate
C. The Federal Market Committee directs monetary policy, while the Federal Reserve district banks oversee open market operations as well as set the target federal funds rate and discount rate
D. The Federal Open Market Committee oversees open market operations and sets the target federal funds rate, while the Federal Reserve district banks overlook the banking industry and implement the policies from the Federal Open Market Committee