Question

The federal reserve entity that makes decisions regarding the conduct of open market operations is the:_________

Answer 1

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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