Federal Open Market Committee

http://www.federalreserve.gov/monetarypolicy/fomc.htm

Federal Open Market Committee

The term "monetary policy" refers to the actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national economic goals. The Federal Reserve Act of 1913 gave the Federal Reserve responsibility for setting monetary policy.

In 1913, The Federal Reserve established under The Federal Reserve Act.  It was influnced by 1907 wall street great financial panic.

You can find a lot of public information that you would study.  it is orgnized in schedules.