Question

Constitutionally, the power to coin money rests with __________. A) Congress ONLY B) State legislatures ONLY C) Congress and state legislatures D) President

Answer 1

The power to coin money, according to the U.S. Constitution, is given solely to Congress, reinforced by Article I, Section 8.

Step-by-step explanation:

Constitutionally, the power to coin money rests with Congress ONLY, as specified in Article I, Section 8 of the U.S. Constitution. Although the Federal Reserve today handles the implementation of monetary policy, it does so under powers initially granted to Congress by the Constitution. This Constitutional clause specifies that Congress has the power 'to coin money' and 'to regulate the value thereof.' This decision was made by the framers of the Constitution who wanted a strong representative assembly at the national level to handle financial matters, including monetary policy.

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