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The Federal Open Market Committee and Its Money Power
This article investigates the Federal Open Market Committee known as the Fed secretive body shaping U S money supply. It describes the six banks and seven governors that meet monthly in Washington and the NY Fed staff who implement policy. It notes Dr Arthur Burns and Alan Holmes guiding actions and explains how open market operations pump money into the economy. It also cites critics like Congressman Wright Patman who denounce secrecy and nontransparent control.
MENTIONED IN THIS ARTICLE
Washington, D.C
New York
Congress
Federal Open Market Committee
Washington
United States
Federal Reserve Board
Reserve Banks
Reserve Board
Arthur Burns
Burns
Alan R. Holmes
Holmes
New York Federal Reserve Bank
Wall Street
Open Market Committee
Federal Reserve
Fed
Reserve System
Federal Reserve System
Wright Patman
Texas