What is it called when the President creates a law to manage the Executive Branch's policies?

The term used when the President creates a law to manage the Executive Branch's policies is known as an executive order. An executive order is a directive issued by the President to manage the operations of the federal government. Through this mechanism, the President can implement and enforce laws passed by Congress, as well as establish policies and procedures within the Executive Branch without the need for legislative approval.

Executive orders can cover a wide range of issues, from administrative procedures to more substantive policy changes affecting various government agencies. They can be used to enforce existing laws, allocate resources, and direct the actions of federal agencies in pursuit of the President's policy agenda.

In contrast, other options like appointing federal judges and judicial review refer to different parts of governmental functions and do not pertain to the process of creating laws or managing policies through direct executive action. The concept of presidential oversight also doesn’t specifically refer to the issuance of laws but rather involves monitoring and reviewing the actions of federal agencies. Therefore, the most accurate term for the President's tool to manage executive policies is indeed an executive order.