The Federal Open Market Committee (FOMC) Is Composed of

question 311

Multiple Choice

The Federal Open Market Committee (FOMC) is composed of

• A) representatives from the governors of all 50 states.
• B) Presidents of 5 Federal Reserve regional banks and the Board of Governors.
• C) the 12 Presidents of the Federal Reserve regional banks.
• D) the Board of Governors, the Vice-President of the United States, and the Secretary of Treasury for the United States.

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Definitions:

Roosevelt Administration

The period of U.S. governance under President Franklin D. Roosevelt, most noted for the New Deal programs implemented to counter the effects of the Great Depression.

Dust Bowl

A period in the 1930s characterized by severe dust storms that damaged the ecology and agriculture of the US and Canadian prairies.

Okies

A term originally used to describe residents of Oklahoma during the Dust Bowl era, it now refers broadly to people who migrated from the central United States during economic hardships.

1930s

A decade marked by the Great Depression, affecting economies worldwide with severe economic downturns, high unemployment rates, and significant social and political impacts.