The Federal Open Market Committee FOMC) is composed of
A) Presidents of 5 Federal Reserve regional banks and the Board of Governors.
B) the Board of Governors, the Vice-President of the United States, and the Secretary of Treasury for the United States.
C) representatives from the governors of all 50 states.
D) the 12 Presidents of the Federal Reserve regional banks.

Question

Quizplus · Accepted Answer

The Federal Open Market Committee (FOMC) is composed of 12 voting members, which include the seven members of the Board of Governors and five of the 12 Federal Reserve Bank Presidents. The President of the New York Federal Reserve Bank has a permanent voting seat on the committee, while the other four Reserve Bank Presidents rotate through the remaining four voting seats annually. Therefore, Choice A is the correct answer.

The Federal Open Market Committee FOMC) Is Composed of