(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.
the fomc manages purchases and sales of treasury securities.
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.
person 1: hey u know last night my bro tripped over soooo bad.

person 2:fomc!

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