In addition to the chairman of the Board of Governors,the FOMC consists of ________.
A)six rotating members of the Board of Governors and five presidents of Federal Reserve banks
B)six other members of the Board of Governors,four rotating bank presidents and the president of the New York Federal Reserve
C)six other members of the Board of Governors and five presidents of Federal Reserve banks;all twelve rotating members
D)twelve Federal Reserve Bank presidents
E)none of the above

Question

Quizplus · Accepted Answer

The Federal Open Market Committee (FOMC) consists of the seven members of the Federal Reserve's Board of Governors, the president of the Federal Reserve Bank of New York, and four other presidents from the Federal Reserve Banks who serve on a rotating basis. This makes a total of twelve members, including the chairman of the Board of Governors.

In Addition to the Chairman of the Board of Governors,the