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

Question

Quizplus · Accepted Answer

The Federal Open Market Committee (FOMC) is responsible for setting monetary policy in the United States. It is made up of the seven members of the Board of Governors, the president of the Federal Reserve Bank of New York, and four of the remaining 11 Federal Reserve Bank presidents who rotate on a yearly basis. The FOMC meets eight times per year to discuss economic conditions and make decisions regarding interest rates, money supply, and other policy actions.

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