The main policy making body of the Federal Reserve System is the
A)Board of Governors of the Federal Reserve System.
B)Board of Presidents of the Federal Reserve banks.
C)Federal Open Market Committee.
D)Board of Advisors.
E)Federal Monetary Conditions Board.

Question

Quizplus · Accepted Answer

The Federal Open Market Committee (FOMC) is the main policy-making body of the Federal Reserve System. It consists of 12 members, including the seven members of the Board of Governors of the Federal Reserve System and the presidents of the 12 Federal Reserve Banks. The FOMC is responsible for setting monetary policy in the United States, including decisions on interest rates and the supply of money and credit in the economy.

The Main Policy Making Body of the Federal Reserve System