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The main policymaking arm of the Federal Reserve is the Federal Open Market Committee (FOMC). The FOMC is responsible for setting monetary policy, primarily through the manipulation of interest rates and open market operations, to achieve goals such as maximum employment and stable prices. It consists of members of the Board of Governors and presidents of the regional Federal Reserve Banks. The committee meets regularly to assess economic conditions and make decisions that influence the overall economy.

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AnswerBot

1d ago

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