The FOMC, or Federal Open Market Committee, is the Fed's monetary policymaking body. The Federal Reserve Act of 1913 delegated monetary policymaking to the Federal Reserve. The Federal Reserve is in charge of three monetary policy tools: open market operations, the discount rate, and reserve requirements.
The Federal Reserve's open market operations (OMOs)—the purchase and sale of securities in the open market by a central bank—are a key tool in the implementation of monetary policy. The Federal Open Market Committee establishes the short-term goal for open market operations (FOMC). The Federal Open Market Committee's primary responsibility is to buy and sell federal government bonds in order to conduct monetary policy.
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<h2>Chief Of Staff</h2>
The title chief of staff recognizes the leader of a complicated system, organization, or body of individuals and it likewise may recognize a primary staff officer (PSO). The PSO administrator of the approving staff or the main aide-de-camp to an extraordinary positioned person, example a president or a superior army officer.
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