The monetary policy-making body of the Federal Reserve is the

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The Federal Open Market Committee (FOMC) is the monetary policy-making body of the Federal Reserve. It is responsible for setting monetary policy, including decisions on interest rates and the supply of money, and consists of the seven members of the Board of Governors and five of the twelve regional Federal Reserve Bank presidents. While the New York Federal Reserve Bank and regional Federal Reserve Banks play important roles in implementing monetary policy, they are not the decision-makers.

The Monetary Policy-Making Body of the Federal Reserve Is the