Question

Five of the 12 members of the Federal Open Market Committee (FOMC) must be _____. elected by the Board of Governors. appointed by the chair of the Board of Governors. bank presidents from Federal Reserve Districts. from the Federal Advisory Council (FAC).

Answer 1

The answer is they must be bank presidents from Federal Reserve Districts. The FOMC is a twelve member organization, seven of them are from the Board of Governors. The other five, as stated in the answer, are Reserve Bank Presidents. This organization is charged with the overall direction of all monetary policies.

Answer 2

Answer:

he answer is they must be bank presidents from Federal Reserve Districts. The FOMC is a twelve member organization, seven of them are from the Board of Governors. The other five, as stated in the answer, are Reserve Bank Presidents. This organization is charged with the overall direction of all monetary policies.

Explanation: