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Federal Open Market Committee
Federal Open Market Committee

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!!! Overview
[{$pagename}] ([FOMC]) consists of 12 members, seven from the [Federal Reserve Board of Governors] and 5 of the regional [Federal Reserve Bank] presidents.
[{$pagename}] oversees and sets [policy] on open market operations, the principal tool of national monetary [policy]. These operations affect the amount of [Federal Reserve] balances available to depository institutions, thereby influencing overall monetary and credit conditions.
[{$pagename}] also directs operations undertaken by the [Federal Reserve] in foreign exchange markets.
[{$pagename}] must reach consensus on all decisions. The president of the [Federal Reserve Bank] of New York is a permanent member of the [{$pagename}]; the presidents of the other [Federal Reserve Bank] rotate membership at two-year and three-year intervals. All [Federal Reserve Bank] presidents contribute to the committee's assessment of the economy and of policy options, but only the five presidents who are then members of the [{$pagename}] vote on policy decisions.
[{$pagename}] determines its own internal organization and, by tradition, elects the Chair of the [Federal Reserve Board of Governors] as its chair and the president of the [Federal Reserve Bank] of New York as its vice chair. deliberations and discussion.
[{$pagename}] formally meets eight times a year in telephone consultations and other meetings are held when needed.
!! More Information
There might be more information for this subject on one of the following:
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This page (revision-1) was last changed on 29-Nov-2024 16:16 by UnknownAuthorTop