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Federal Open Market Committee (FOMC)

Federal Open Market Committee (FOMC) definition - business

Federal Open Market Committee (FOMC)

A policy-making committee within the Federal Reserve that has the responsibility for establishing and carrying out open-market operations. Policies and decisions of the committee have a substantial impact on interest rates and the securities markets. The FOMC is composed of the 7 members of the Board of Governors of the Federal Reserve System and presidents from 5 of the 12 Federal Reserve Banks. Also called Open Market Committee.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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