2. What government agency governs the Federal Reserve, meets at least 8 times a year, is based in Washington, DC and sets monetary policy?

The chairman of the Board of Governors chairs the FOMC. The FOMC typically meets eight times a year in Washington, D.C. At each meeting, the committee discusses the outlook for the U.S. economy and monetary policy options. The FOMC is an example of the interdependence built into the Fed's structure.

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