ECONOMICS
FISCAL POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Setting monetary policy.
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Informing the president about the economy.
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Informing Congress about the economy.
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None of these
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Detailed explanation-1: -The FOMC holds eight regularly scheduled meetings per year. At these meetings, the Committee reviews economic and financial conditions, determines the appropriate stance of monetary policy, and assesses the risks to its long-run goals of price stability and sustainable economic growth.
Detailed explanation-2: -The Federal Open Market Committee sets U.S. monetary policy in accordance with its mandate from Congress: to promote maximum employment, stable prices, and moderate long-term interest rates in the U.S. economy.
Detailed explanation-3: -The main role of the FOMC is to control monetary policy. A consolidated report of economic conditions in each of the Federal Reserve districts; used by the FOMC in formulating monetary policy.