Federal Open Market Committee: Difference between revisions
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''US | ''US banking.'' | ||
The Federal Open Market Committee (FOMC) within the United States Federal Reserve System is responsible for [[open market operations]] as a tool in effecting the central bank's monetary policy. | The Federal Open Market Committee (FOMC) within the United States Federal Reserve System is responsible for [[open market operations]] as a tool in effecting the central bank's monetary policy. | ||
Revision as of 22:25, 8 June 2020
US banking.
The Federal Open Market Committee (FOMC) within the United States Federal Reserve System is responsible for open market operations as a tool in effecting the central bank's monetary policy.
The Federal Open Market Committee has twelve members: the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis.
