Homework Answers
False.
(As per the Federal Reserve Act, the Chairman of the Board of Governors of the Federal Reserve System has to appear for the Congressional hearings at least twice per yearto discuss its activities and objectives with respect to the monetary policy. The act requires that the Chairman to appear before the House Committee on Financial Services in odd-numbered years, and before the Senate Committee on Banking, Housing, and Urban Affairs in even-numbered years.
Hence Federal Open Market Committee (FOMC), doesn't necessarily have to meet with the Senate Committee on Banking to decide the monetary policy. They only meet once every two years.)
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