FOMC stands for:

## Federal Open Market Committee

1. *Part of the Federal Reserve*: The FOMC is a committee within the Federal Reserve System, the central bank of the United States.

2. *Monetary policy decisions*: The FOMC makes key decisions about monetary policy, including setting the target range for the federal funds rate.

3. *Meetings and announcements*: The FOMC meets regularly (typically eight times a year) to discuss economic conditions and make policy decisions. Their decisions can impact financial markets.

## Impact on Economy and Markets

1. *Interest rates*: FOMC decisions on interest rates can affect borrowing costs, economic growth, and inflation.

2. *Market reactions*: Financial markets often react to FOMC announcements and decisions.

## Composition

1. *Members*: The FOMC includes the seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank presidents.

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