Asked by Fahim Sultanzada on Apr 29, 2024
Verified
Who does not sit on the Federal Open Market Committee?
A) The president of the New York Federal District Bank
B) The Chairman of the Federal Reserve Board
C) The Secretary of the Treasury
D) The members of the Federal Reserve Board
Federal Open Market Committee
The branch of the Federal Reserve Board that determines the direction of monetary policy, specifically by directing open market operations.
Secretary of the Treasury
A key cabinet position in the United States responsible for managing the federal finances, including producing currency, collecting taxes, and paying government bills.
Federal Reserve Board
The authority in charge of the Federal Reserve System, tasked with supervising the central bank system of the United States and establishing its monetary policy.
- Determine the hierarchical arrangement and obligations present within the Federal Reserve System.
Verified Answer
ZK
Zybrea KnightMay 05, 2024
Final Answer :
C
Explanation :
The Secretary of the Treasury does not sit on the Federal Open Market Committee (FOMC). The FOMC consists of members from the Federal Reserve System, including the President of the New York Federal Reserve Bank, the Chairman of the Federal Reserve Board, and other Federal Reserve Board members, but not officials from the Treasury Department.
Learning Objectives
- Determine the hierarchical arrangement and obligations present within the Federal Reserve System.