An effective Federal Reserve operating target is a target that is reliably linked toAinflation and unemployment ratesBother operating targetsCfiscal policyDopen market operations Solution its \"D Open Market Operations\" Operational targets are reliably linked in terms of the changes in the money supply and non- borrowed reserves. The federal funds rate is generally only applicable to the institutions when they borrow and lend overnight funds to each other. This affects financial and monetary conditions, which are key aspects of the broad economy..