The (FOMC) Federal Open Market Committee
a. includes the Board of Governors and the presidents of the 12 Federal Reserve regional banks (though not all are voting members).
b. determines the target federal funds rate and the direction of open market operation policies.
c. makes decisions that are voted on by all 7 members of the Board of Governors but only 5 of the 12 regional bank presidents.
d. All of the above.
e. A and B only.
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