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28-01-2020
Social Studies

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While all members of the Federal Reserve Board of Governors vote at Federal Open Market Committee (FOMC) meetings, only of the regional bank presidents are members of the FOMC.

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28-01-2020

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5

The FOMC consists of the seven members of the Board of Governors and five of the 12 regional bank presidents. The five voting positions in the FOMC rotate among the 12 regional bank presidents. The president of the New York Federal Reserve always has a vote, however, because the New York Federal Reserve conducts all open-market operations for the Federal Reserve System. I hope this helps!

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