Why is the FOMC important to US stability?
The FOMC or Federal Market Committee is the Federal Reserves monetary policymaking body. Their responsibilities include the formation of policy which is designed to promote stable prices and economic growth. In short the FOMC basically manages our nation's money supply.
The FOMC is managed by a Board of Governors who are responsible for coming up with the policies. They typically meet eight times a year in Washington, D.C. At these meetings they discuss the outlook for the U.S. economy and monetary policy options. While all Reserve Banks president…
