Monetary policy actions are determined by the

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The Federal Open Market Committee (FOMC) is responsible for determining monetary policy actions in the United States. The FOMC is made up of the seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank presidents. The committee meets several times throughout the year to assess the state of the economy and set policies related to interest rates, money supply, and other monetary tools. The New York Federal Reserve Bank is one of the twelve regional banks that make up the Federal Reserve System and plays a key role in implementing the decisions made by the FOMC. The President of the United States does not have direct control over monetary policy, although the chair of the Federal Reserve is appointed by the President and confirmed by the U.S. Senate. The U.S. Congress has oversight responsibilities for the Federal Reserve, but does not directly determine monetary policy actions.

Monetary Policy Actions Are Determined by the