The Federal Reserve Board is the Board of Governors of the Federal Reserve System, or Fed, the US central bank. The Federal Reserve Board sets the Fed’s monetary policy. Implementation of most Federal Reserve Board monetary policy objectives occurs in the form of open market operations conducted by the Federal Open Market Committee, or FOMC, in New York. Federal Reserve Board members, including the Chairman and Vice Chairman, are political appointees. Federal Reserve Board meetings are also attended by a rotating subset of the 12 individual Federal Reserve Bank branch presidents. Some Federal Reserve Board meetings are open to the public, but meetings about monetary policy are always closed. The Federal Reserve Board meets in Washington, DC, generally twice each month. |
