Question

5. Financial institutions in the United States Which of the following participates in decisions about open-market...

5. Financial institutions in the United States

Which of the following participates in decisions about open-market operations? Check all that apply.

The Board of Governors of the Federal Reserve

The Federal Open Market Committee

The Federal Deposit Insurance Corporation

Bank of America

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Answer #1

Decisions regarding open market operations are made by the Federal Open Market Committee (FOMC). The FOMC is made up of the seven members of the Federal Reserve’s Board of Governors, plus five voting members who are drawn, on a rotating basis from the regional Federal Reserve Banks. The Board of Governors of the Federal Reserve System is responsible for the discount rate and reserve requirements, and the Federal Open Market Committee is responsible for open market operations. Hence, the answer is The Federal Open Market Committee.

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