FOMC meeting

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Definition
A meeting of the Federal Open Market Committee, or FOMC, which is scheduled eight times yearly with additional meetings as required. The 12 directors of the FOMC consist of seven members of the Federal Reserve Board and five presidents of the Federal Reserve Bank. Staff officers present on global financial developments, including trends in supply and demand, prices and wages, employment and production rates, consumer income and spending practices, real estate, foreign exchange markets, interest rates, and various forms of fiscal policy.