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Federal Open Market Committee
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The Federal Open Market Committee, or FOMC, is an arm of the Federal Reserve System, the US central bank. The Fed has three main monetary policy tools, one of which are open market operations. The Federal Open Market Committee sets the short-term objectives of these open market operations. The Federal Open Market Committee can aim for either a desired level of reserves or a target federal funds rate. This objective is achieved through the sale and purchase of US Treasuries and Federal agency securities. The Federal Open Market Committee meets eight times per year. Each Federal Open Market Committee meeting is concluded with the publication of a press release. Later the meeting minutes for the most recent Federal Open Market Committee are published. The Federal Open Market Committee has twelve members.
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