What term describes the efforts by the Federal Reserve Board to influence the economy?

The term that describes the efforts by the Federal Reserve Board to influence the economy is monetary policy. This involves the management of the money supply and interest rates by a central bank to achieve macroeconomic objectives such as controlling inflation, maintaining employment, and stabilizing the currency. The Federal Reserve uses various tools, such as open market operations, the discount rate, and reserve requirements, to adjust the amount of money circulating in the economy and influence overall economic activity.

In contrast, fiscal policy relates to government spending and taxation decisions designed to influence economic activity, while taxation policy specifically focuses on how taxes are levied and structured. Regulatory policy refers to laws and regulations designed to control the activities of businesses and markets. These terms, while related to economic influence, do not accurately describe the Federal Reserve's role, which is primarily concerned with managing the nation’s monetary resources.