The Federal Open Market Committee:
A. is made up of the presidents of the 12 Federal Reserve Banks
B. consists of the seven members of the Board of Governors of the Fed, plus five presidents of Reserve Banks
C. is appointed by the Chairman of the Federal Reserve System
D. none of the above
Answer:B
The Federal Open Market Committee:
A. is made up of the presidents of the 12 Federal Reserve Banks B. consists of the seven members of the Board of Governors of the Fed, plus five presidents of Reserve Banks C. is appointed by the Chairman of the Federal Reserve System D. none of the above