<P> The Committee consists of the seven members of the Federal Reserve Board , the president of the New York Fed , and four of the other eleven regional Federal Reserve Bank presidents , serving one year terms . The Federal Open Market Committee was formed by the Banking Act of 1933 ( codified at 12 U.S.C. § 263 ) , and did not include voting rights for the Federal Reserve Board of Governors . The Banking Act of 1935 revised these protocols to include the Board of Governors and to closely resemble the present - day FOMC , and was amended in 1942 to give the current structure of twelve voting members . </P>
<P> The Committee consists of the seven members of the Federal Reserve Board , the president of the New York Fed , and four of the other eleven regional Federal Reserve Bank presidents , serving one year terms . The Federal Open Market Committee was formed by the Banking Act of 1933 ( codified at 12 U.S.C. § 263 ) , and did not include voting rights for the Federal Reserve Board of Governors . The Banking Act of 1935 revised these protocols to include the Board of Governors and to closely resemble the present - day FOMC , and was amended in 1942 to give the current structure of twelve voting members . </P>
how many of the regional bank presidents are members of the fomc
how many of the regional bank presidents are members of the fomc
four of the other eleven
four of the other eleven