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English definition of “the Federal Open Market Committee”

the Federal Open Market Committee

noun     (abbreviation the FOMC) FINANCE, GOVERNMENT
a group of twelve people who are responsible for making decisions relating to interest and credit rates for the Federal Reserve System : Recent rate decisions by the Federal Open Market Committee have been based on the need to balance the risks for growth and inflation .
(Definition of the Federal Open Market Committee noun from the Cambridge Business English Dictionary © Cambridge University Press)
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