Which of the following is the major monetary policy-making body of the U.S. Federal Reserve System?

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FOMC (Federal Open Market Committee) is the major monetary policy-making body of the U.S. Federal Reserve System. It consists of members from the Federal Reserve Board of Governors and Federal Reserve Bank presidents. They are responsible for setting monetary policy by deciding on interest rates and establishing monetary targets. The OCC (Office of the Comptroller of the Currency) is a regulatory agency that oversees and supervises banks. The FRB (Federal Reserve Bank) presidents are members of the FOMC, but the FOMC is the primary decision-making body. The U.S. Congress is responsible for fiscal policy, not monetary policy. The Group of Eight is an international organization that addresses global economic issues.

Which of the Following Is the Major Monetary Policy-Making Body