1、 https:/crsreports.congress.gov Updated January 21, 2022Introduction to U.S. Economy: Monetary PolicyThe Federal Reserve (Fed), the nations central bank, is responsible for monetary policy. This In Focus explains how monetary policy works. Typically, when the Fed wants to stimulate the economy, it m
2、akes policy more expansionary by reducing interest rates. When it wants to make policy more contractionary or tighter, it raises rates. For background on the Fed and its other responsibilities, see CRS In Focus IF10054, Introduction to Financial Services: The Federal Reserve. Federal Open Market Com
3、mittee Monetary policy decisions are made by the Federal Open Market Committee (FOMC), whose voting members are the Feds seven governors, the New York Federal Reserve Bank president, and four other Reserve Bank presidents, who vote on a rotating basis. The FOMC is chaired by the Fed chair. FOMC meet
4、ings are regularly scheduled every six weeks, but the chair sometimes calls unscheduled meetings. After these meetings, the FOMC statement announcing any changes to monetary policy is released. Statutory Goals In 1977, the Fed was mandated to set monetary policy to promote the goals of “maximum empl
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