Which of the following is TRUE regarding the Federal Open Market Committee FOMC)?
A) Representatives from each state control its operation.
B) It is the main policy-making group of the Congress.
C) It meets about every six weeks to decide on monetary policy.
D) Both answers A and C are correct.

Question

Quizplus · Accepted Answer

The Federal Open Market Committee (FOMC) is the main policy-making group of the Federal Reserve System, not the Congress. The FOMC meets approximately every six weeks to discuss and decide on monetary policy. Representatives from each state do not control its operation, as the Federal Reserve System is an independent entity. Therefore, only choice C is true. Choice A is incorrect as it describes a decentralized system of control, which is not applicable to the FOMC or the Federal Reserve System.

Which of the Following Is TRUE Regarding the Federal Open