Final answer:
The president of the New York Federal Reserve Bank always has a permanent voting seat on the Federal Open Market Committee.
Step-by-step explanation:
The Federal Open Market Committee (FOMC) is responsible for making key decisions around open market operations, which are a primary tool of monetary policy. The FOMC is comprised of twelve members, seven from the Board of Governors and five from the regional Federal Reserve Banks. The president of the New York Federal Reserve Bank holds a permanent voting position on the FOMC, due to its crucial role in monetary operations and the size of its district. The remaining four voting seats are filled on a rotating basis annually from among the other eleven regional Banks.