#FOMCMeeting
The Committee's responsibilities include the development of monetary policy that stimulates four areas at once:
price stability
economic growth
full employment
stability of external payments and international trade
The Committee engages in the buying and selling of federal debt obligations and U.S. Treasury securities.
The Committee consists of 12 'voting' members, including all seven members of the Board of Governors of the Federal Reserve System, as well as the presidents of five Federal Reserve Banks. The president of the New York Federal Reserve Bank is a permanent member of the Committee, while the presidents of the other four Federal Reserve Banks rotate annually in this position, so that a new representative takes the place of their predecessor on January 1 of each year.
According to the Federal Reserve Act, FOMC meetings must be held in Washington at least four times a year. In practice, since 1980, eight meetings have been held annually at intervals of 5-8 weeks. At each meeting of the Committee, a vote is taken regarding the size of the interest rate, and the current economic situation, monetary policy direction, etc., are discussed.