Share This Article:

Economic Definition of Federal Open Market Committee. Defined.

Offline Version: PDF

Term Federal Open Market Committee Definition: A part of the Federal Reserve System that's specifically responsible for directing open market operations, and is more generally charged with guiding the nation's monetary policy. The FOMC includes the 7 members of the Fed's Board of Governors and 5 of the 12 presidents of Federal Reserve District Banks. The chairman of the Federal Reserve System is also the chairman of the FOMC. The FOMC meets every 45 days to evaluate monetary policy.


« Federal Insurance Contributions Act | Federal Reserve Bank »


Alphabetical Reference to Over 2,000 Economic Terms