The voting members of the FOMC are
A)the governors of the Federal Reserve Board and the president of the United States.
B)the governors of the Federal Reserve Board and the president of the New York Fed.
C)the governors of the Federal Reserve Board and 5 of the 12 Federal Reserve district bank presidents.
D)the governors of the Federal Reserve Board and the 12 Federal Reserve district bank presidents.
E)the governors of the Federal Reserve Board, 5 of the 12 Federal Reserve district bank presidents, and the secretary of the Treasury.

Question

Quizplus · Accepted Answer

The voting members of the Federal Open Market Committee (FOMC) include the seven members of the Federal Reserve Board of Governors and five of the twelve Federal Reserve district bank presidents. The president of the Federal Reserve Bank of New York is a permanent member, while the other four spots are filled on a rotating basis by the presidents of the other Federal Reserve Banks.

The Voting Members of the FOMC Are