Word of the Day: Federal Open Market Committee (FOMC)

The branch of the Federal Reserve Board that determines the direction of monetary policy, using three major tools including raising or lowering the discount rate, adjusting reserve requirements, and engaging in open market operations. The FOMC holds eight regularly scheduled meetings per year. The Federal Open Market Committee was formed by the Banking Act of 1933 (codified at 12 U.S.C. 263), and did not include voting rights for the Board of Governors. The Banking Act of 1935 revised these protocols to include the Board of Governors and to closely resemble the present-day FOMC, and was amended in 1942 to give the current structure of twelve voting members[3]: the seven members of the Federal Reserve Board and five of the twelve Federal Reserve Board presidents. The Federal Reserve Board of New York president always sits on the Committee, and the other presidents serve one-year terms on a rotating basis. The rotating seats are filled from the following four groups of banks, one bank president from each group: Boston, Philadelphia, and Richmond; Cleveland and Chicago; Atlanta, St. Louis, and Dallas; and Minneapolis, Kansas City, and San Francisco. All of the Reserve Bank presidents, even those who are not currently voting members of the FOMC, attend Committee meetings, participate in discussions, and contribute to the Committee's assessment of the economy and policy options. The Committee meets eight times a year, approximately once every six weeks.

Category:

News & Politics

Tags:

• Capital Account
• Lauren Lyster
• FOMC
• Federal Open Market Committee
• Federal Reserve
• OMO
• open market operations
• quantitative easing
• interest rates
• federal funds rate

[TheBorkka]

Just a minor detail... The "Federal Reserve" is not federal, nor does it have any reserves. It is a private central bank masquerading as a part the federal goverment.

[007HubbaBubba]

Here's another word for the Day!

SOL; Shit out of luck, no more anything, Fubar, unequivocaly insubstantialy fucked.

[sssssjjjj1]

WHEN SHE'S TEN YEARS OLDER, SHE'LL SEE THIS VID AND SAY, WHEWW, I DIDN'T KNOW SQUAT BACK THEN BUT I SURE WAS A COCKY LITTLE STINKER. SHE IS GOOD NO DOUBT. CUTE AS CAN BE AND SMART AS HELL.

[sssssjjjj1]

WHEN SHE'S TEN YEARS OLDER, SHE'LL SEE THIS VID AND SAY, WHEWW, I DIDN'T KNOW SQUAT BACK THEN BUT I SURE WAS A COCKY LITTLE STINKER. SHE IS GOOD NO DOUBT. CUTE AS CAN BE AND SMART AS HELL.

[DforDIckhead2100]

Dumbass RT/kremlin whore can barely read cue cards. Go get fucked up the ass by your commissars, little cunt.

[kingpin124]

I heart her so bad.

[TheVMFA333]

THE DEBT/SLAVE MAKERS...

[AllianceOfJerkOffs]

RT/kremlin cunt. Stinky like a treasonous twat is

[007HubbaBubba]

@wikifacts ..well now, that would be a matter of opinion, now wouldn't it? And thank you for  your comliment, and I will try to add more other words of the day.