The Federal Open Market Committee (FOMC) of the Federal Reserve System is primarily for:
A. Maintaining cash reserves that can be used to settle international transactions
B. Supervising banks to make sure that markets are open to all and remain competitive
C. Issuing currency and acting as the fiscal agent for the Federal government
D. Setting the Fed's monetary policy and directing the purchase and sale of government securities
D. Setting the Fed's monetary policy and directing the purchase and sale of government securities
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The ICC accepts only those cases in which domestic criminal courts are either unable or unwilling to get involved. This stipulation is referred to as
a. nonproliferation. b. noninterference. c. complementarity. d. asylum.
Congress established the FOMC because
A) a group was needed to set reserve requirements for member banks. B) of a lack of coordination among district banks in carrying out open market operations. C) Congress was attempting to expand its influence within the Federal Reserve System. D) a group was needed to coordinate the setting of discount rates by the district banks.