Why Does the President of the Federal Reserve Bank of New

Why does the president of the Federal Reserve Bank of New York hold a permanent seat on the FOMC?

A) The New York Fed is responsible for executing open market operations.
B) A substantial amount of financial activity takes place in New York City.
C) The Fed Board of Governors holds its regularly scheduled meetings in New York City.
D) The Federal Reserve Bank of New York is the original Fed district; the other eleven districts were formed later by the Banking Act of 1935
E) a and b