For more than 20 years, the fed has used the federal funds rate as its monetary policy target. it has not targeted money supply at the same time because thea. fed does not have the authority to control both targetsb. fed cannot target both at the same time: it has to choose between targeting an interest rate and targeting the money supplyc. fed can target both at the same time, but it has chosen to target the interest rate as it is more reliable as a target