The research arm of the federal reserve is the "federal advisory council (fac)".
The Federal Advisory Council (FAC), which is made out of twelve delegates of the managing an account industry, counsels with and exhorts the Board on all issues inside the Board's ward. The chamber commonly meets four times each year, the base number of gatherings required by the Federal Reserve Act. These gatherings are constantly held in Washington, D.C., usually on the primary Friday of February, May, September, and December, albeit every so often the gatherings are set for various occasions to suit the comfort of either the committee or the Board.
