(US GOVERNMENT) Federal Open Market Committee; a committee whose members include the 7 governors of the Federal Reserve Board plus five presidents of the Federal Reverse Banks (there are 12 district banks). The FOMC is responsible for open market operations of the Federal Reserve System.
by Abu Yahya June 16, 2010
FOMC is a new abbriviation (made by me) used in msn, facebook etc. Meaning "Falling Off My Chair" It is used when you think something is really funny on online chat.
by CoolMintz February 23, 2010