The Federal Open Market Committee (FOMC) is a name given to a branch of the Federal Reserve Bank in the United States. The FOMC is the policy making arm of the Federal Reserve, and it has eight meetings that takes place in a year to assess the current market and make decisions which are intended to keep it running smoothly.
While the decisions that are made by the FOMC makes only directly impact funds that are being held by the Federal Reserve Bank, in general they have a ripple effect on the market, and by the finance industry the results of FOMC meetings are eagerly awaited.
Members of FOMC
The FOMC has 12 members. Seven of the members come from the Federal Reserve Bank Board, and these are appointed by the president of the United States.
