Monetary policy is determined by a committee whose voting members include all the presidents of the regional Federal Reserve Banks.

Question

Quizplus · Accepted Answer

Monetary policy in the United States is determined by the Federal Open Market Committee (FOMC), which includes the seven members of the Board of Governors of the Federal Reserve System, the president of the Federal Reserve Bank of New York, and four of the remaining eleven regional Federal Reserve Bank presidents, who serve on a rotating basis.

Monetary Policy Is Determined by a Committee Whose Voting Members