ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Participating on the FOMC
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Controlling the economy
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Monitoring commercial banks
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None of the above
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Detailed explanation-1: -The Governors’ most important responsibility is participating on the FOMC, the committee that directs the nation’s monetary policy. Heading the Board of Governors are a Chairman and Vice Chairman, who are Governors whom the president of the United States appoints to serve four-year terms.
Detailed explanation-2: -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-3: -The FOMC helps to manage the money supply, financial stability using monetary policy.
Detailed explanation-4: -The Federal Open Market Committee’s (FOMC) structure promotes the consideration of broad U.S. economic perspectives and the public interest in key monetary policy decisions made by the U.S. central bank.
Detailed explanation-5: -The FOMC meets eight times a year to discuss monetary policy changes, review economic and financial conditions and assess price stability and employment output.