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What Is the FOMC? Who Are the Members of the FOMC

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What is the FOMC? Who are the members of the FOMC? What policy does the FOMC decide?


Definitions:

Global Warming

The long-term rise in Earth's average temperature, primarily due to human activities like burning fossil fuels, which increases greenhouse gas levels in the atmosphere.

Empirical Measure

A quantitative measure based on observation and experimentation, as opposed to theoretical analysis.

Variable

An element, feature, or factor that is liable to vary or change; in scientific experiments, it’s something that is controlled or manipulated to test hypotheses.

Normative Economic Reasoning

An approach in economics that reflects judgments about what the economy should be like or what particular policy actions should be recommended.

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