Final answer:
Congress holds the power to raise, borrow, and coin money, and also to set the value of money, under the U.S. Constitution, although it has delegated some aspects of monetary policy to the Federal Reserve.
Step-by-step explanation:
The entity that has the power to raise, borrow, and coin money, as well as to set the value of money, is Congress. Per Article I, Section 8 of the U.S. Constitution, Congress has the explicit powers "to coin money" and "to regulate the value thereof."
These powers were further detailed in the 1913 legislation that established the Federal Reserve.
Although the Federal Reserve is responsible for conducting the nation's monetary policy, which includes managing interest rates and credit conditions to influence the level of economic activity, it does so under the authority delegated to it by Congress.
Therefore, the answer to the student's question is (d) Congress. While the Federal Reserve has important functions in monetary policy, and the Treasury Department is involved in the actual production of money, it is ultimately Congress that holds and has delegated these powers.