All members of the Federal Open Market Committee have voting power with the Chairman of the Federal Reserve Board having the power to cast tie-breaking vote on any monetary policy decision.

Question

Quizplus · Accepted Answer

Not all members of the Federal Open Market Committee (FOMC) have voting rights at the same time. The FOMC consists of the seven members of the Federal Reserve Board of Governors, the president of the Federal Reserve Bank of New York, and presidents of four other regional Federal Reserve Banks who serve on a rotating basis. The Chairman of the Federal Reserve Board does not have a tie-breaking vote because decisions are made by majority vote.

All Members of the Federal Open Market Committee Have Voting