Federal Open Market Committee

The Federal Open Market Committee (FOMC) is a part of the US Federal Reserve System responsible for overseeing open market operations (buying and selling of government securities) in the United States. Its is also the principal tool of US national monetary policy. The FOMC also directs operations undertaken by the Federal Reserve System in foreign exchange markets.
For more information see: www.federalreserve.gov/monetarypolicy/fomc.htm