• The Federal Open Market Committee is a division of the Federal Reserve System.

  • The FOMC determines the direction of monetary policy by guiding open market operations.
  • The Committee consists of the Board of Governors, which includes seven members and five presidents of the Federal Reserve Bank.
  • Every year he has eight regular meetings scheduled, which are the subject of speculation on Wall Street.
  • Six FOMC seats are filled, but one remains vacant as of May 2022.