What Is the FOMC and What Does It Do?

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The Federal Open Market Committee (FOMC) is the policymaking arm of the Federal Reserve, the central bank of the United States. It's responsible for overseeing the US open market operations, which influence monetary policy. This committee makes key decisions about interest rates and the growth of the U.S. money supply, aiming to achieve specific economic objectives, such as controlling inflation, achieving maximum employment, and ensuring moderate long-term interest rates.

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