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which of the following groups meets to discuss changes in the economy and determine monetary policy?...

which of the following groups meets to discuss changes in the economy and determine monetary policy?

A. President of the United States

B. The Federal Open Market Committee

C. Congress

D. The Board of Directors from each of the 12 regional Federal Reserve Banks.

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Answer #1

The correct option is B. The Federal Reserves Act ,1913 gave the Federal Reserves responsibility for setting monetary policy. The FOMC holds 8 regular meetings per year and discuss economic and financial conditions , take appropriate monetary stance and assess long term price stability. Option A is incorrect as President is part of the Govt. and govt is involved in fiscal polices. Option C is incorrect as Congress has instructed Federal Reserve to pursue monetary policy. They themselves do not participate. Option d is incorrect as board of directors have no role in this

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