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 FOMC consists of the seven members of the Board of Governors, including the chairman, and five Federal Reserve Bank presidents. The president of the New York Federal Reserve is a permanent member, while the other four positions rotate among the remaining eleven Reserve Bank presidents.

In Addition to the Chairman of the Board of Governors