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13 March, 15:35

Why does the president of New York's Federal Reserve Bank always have a vote in the FOMC

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  1. 13 March, 18:08
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    Due to the importance of New York's financial market and the execution of the open market operations.

    Explanation:

    The great size of the financial market in New York and the execution of open market operation are the reasons for the President of the New York's Federal Reserve Bank holding a permanent seat and vote on the Federal Open Market Committee which is composed by 12 members--the seven members of the Board of Governors and five of the 12 Reserve Bank presidents.
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