ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Federal Open Market Committee (FOMC) consists of twelve members–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 Reserve Bank presidents, who serve one-year terms on a rotating basis.

Detailed explanation-2: -The Reserve Banks are decentralized by design and are located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.

Detailed explanation-3: -Meeting calendars, statements, and minutes (2018-2023) The FOMC holds eight regularly scheduled meetings during the year and other meetings as needed. Links to policy statements and minutes are in the calendars below.

Detailed explanation-4: -Answer and Explanation: The correct option is D. The Federal Open Market Committee (FOMC) is the monetary policymaking body of the Federal Reserve.

Detailed explanation-5: -Jerome H. Powell. Chair. Board of Governors. Michelle W. Bowman. Governor. Board of Governors. Lisa D. Cook. Governor. Board of Governors. Philip N. Jefferson. Governor. Board of Governors. Christopher J. Waller. Governor. Lael Brainard. Vice Chair. Board of Governors. Randal K. Quarles. Vice Chair for Supervision. Janet L. Yellen. Chair. More items