The Open Market Committee (OMC) is a key component of the Federal Reserve System, which is the central banking system of the United States. The OMC is responsible for setting monetary policy, primarily through the buying and selling of government securities. This process influences interest rates and the overall money supply in the economy. The committee meets regularly to assess economic conditions and make decisions that aim to promote maximum employment, stable prices, and moderate long-term interest rates. The OMC's actions play a crucial role in guiding the U.S. economy and responding to changing economic circumstances.