Which part of the Federal Reserve System meets every 6 weeks to determine the nation's monetary policy?
A) Board of Governors
B) depository institutions such as commercial banks
C) Federal Open Market Committee
D) the Federal Reserve Banks

Question

Quizplus · Accepted Answer

The Federal Open Market Committee (FOMC) is a part of the Federal Reserve System that meets every 6 weeks to determine the nation's monetary policy. The FOMC is made up of the Board of Governors (A) and Reserve Bank presidents (D), but it operates separately from them. Depository institutions (B) such as commercial banks are not part of the FOMC but rather are affected by its decisions.

Which Part of the Federal Reserve System Meets Every 6