LeoGlossary: Federal Open Market Committee (FOMC)

How to get a Hive Account

The part of the Federal Reserve System that handles monetary policy. It does so by directing Open Market Operations (OMO).

The committee is made up of 12 individuals:

  • Seven members of the Board of Governors
  • President of Fed Reserve Bank of New York
  • Four of the 11 remaining Reserve Bank Presidents on a rotating basis.

The committee meets 8 times a year in Washington DC to discuss whether there is to be any changes in monetary policy.

Committee members are typically categorized as hawks favoring tighter monetary policies, doves who favor stimulus, or centrists/moderates who are somewhere in between.

The Fed releases the Beige Book before each meeting. This offers information provided by the Federal Reserve Banks about what is going on in their districts.


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