http://en.wikipedia.org/wiki/Federal_Reserve_System
The FOMC determines its own internal organization and, by tradition, elects the Chair of the Board of Governors as its chair and the president of the Federal Reserve Bank of New York as its vice chair. It is informal policy within the FOMC for the Board of Governors and the New York Federal Reserve Bank president to vote with the Chair of the FOMC; anyone who is not an expert on monetary policy traditionally votes with the chair as well; and in any vote no more than two FOMC members can dissent.Formal meetings typically are held eight times each year in Washington, D.C. Nonvoting Reserve Bank presidents also participate in Committee deliberations and discussion. The FOMC generally meets eight times a year in telephone consultations and other meetings are held when needed.
The FOMC determines its own internal organization and, by tradition, elects the Chair of the Board of Governors as its chair and the president of the Federal Reserve Bank of New York as its vice chair. It is informal policy within the FOMC for the Board of Governors and the New York Federal Reserve Bank president to vote with the Chair of the FOMC; anyone who is not an expert on monetary policy traditionally votes with the chair as well; and in any vote no more than two FOMC members can dissent.Formal meetings typically are held eight times each year in Washington, D.C. Nonvoting Reserve Bank presidents also participate in Committee deliberations and discussion. The FOMC generally meets eight times a year in telephone consultations and other meetings are held when needed.
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