Definitions for "FOMC"
Federal Open Market Committee. A 12-member committee which sets credit and interest...
The 12-member Open Market Committee of the Federal Reserve Board makes policy decisions that influence the health of the American economy. The committee, whose decisions are closely watched by investors and market analysts, meets eight times a year to evaluate the threat of inflation or recession. Based on its findings, the FOMC determines whether to change interest rates or alter credit policies to curb or stimulate economic growth. It may, for instance, raise the interest rate that the Federal Reserve charges member banks to borrow money. This move would be an effort to tighten the availability of credit in the economy and thereby limit growth. Or it may decide to buy government securities to increase the amount of money in circulation.
The body that is responsible for setting the interest rates and credit policies of the Federal Reserve System. A 12-member committee consisting of the seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank presidents. The Committee sets objectives for the growth of money and credit. These objectives are implemented through purchases and sales of U.S. government securities in the open market. The FOMC also establishes policy relating to System operations in the foreign exchange markets.
Keywords:  marion, oregon, friends, county
Friends of Marion County, Oregon