The Council of Economic Advisers

a. is an independent agency with broad regulatory powers.

b. determines the Fed's monetary policy.

c. advises the president on economic developments and strategy.

d. advises Congress on economic developments and strategy.

C. Advises the president on economic developments and strategy. The Council of Economic Advisers is an agency that advises the U. S. President on economic policy. It functions under the Executive Office of the President. It provides empirical study and prepares the annual Economic Report of the President.