One of the mysteries of the English language finally explained.
A committee of the Federal Reserve Board that meets regularly to set monetary policy, including the interest rates that are charged to banks.
- ‘The Federal Open Market Committee has a practice, authorized by regulation, of withholding certain monetary policy directives from the public during the month they are in effect.’
- ‘The afternoon release of Federal Open Market Committee minutes from the board's October 31 meeting was the clear highlight of the day's trade.’
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