Question

Which of the following is not correct?

a. The regional Federal Reserve Banks play a role in regulating banks and ensuring the health of the banking system.
b. The President of the New York Federal Reserve Regional Bank always gets to vote on the decisions made by the Federal Open Market Committee.
c. U.S. monetary policy is made by the Federal Open Market Committee.
d. The Federal Open Market Committee meets every 12 weeks.

Answer 1

d. The Federal Open Market Committee meets every 12 weeks.

Step-by-step explanation:

The wrong option is --

d. The Federal Open Market Committee meets every 12 weeks.

The Federal Reserve Banks acts as the main banking system of the United States of America. It was formed in 1913, December 23. Main function of the Federal Reserve Banks is maintain the monetary policy of the United States.

The Federal Open Market Committee is a committee which is established under the Federal Reserve Banks. It functions United States' open market operations.

The Federal Open Market Committee or the FOMC have scheduled meetings eight times in a year. Thus the members of the Federal Open Market Committee meet eight times per year.

Hence the incorrect option is ----

d. The Federal Open Market Committee meets every 12 weeks.