Meaning of “the Federal Open Market Committee” in the English Dictionary

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"the Federal Open Market Committee" in Business English

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the Federal Open Market Committeenoun

uk us 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)