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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 from the Cambridge Business English Dictionary © Cambridge University Press)
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