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The Shadow Open Market Committee (SOMC), an independent organization with members from academic institutions and private organizations, was founded by Professors Karl Brunner of the University of Rochester and Allan Meltzer of Carnegie-Mellon. Its first semi-annual meeting was held on September 14, 1973. The original objective was to evaluate the policy choices and actions of the Federal Reserve's Open Market Committee (FOMC). Since 1973, the SOMC has met semi-annually to discuss economic policy.
Additional reports of the committee are available on the Shadow Open Market Committee website.
Shadow Open Market Committee, ([year]), Shadow Open Market Committee Policy Statement and Position Papers, [issue title/date], accessed Sep 30, 2014 from FRASER, http://fraser.stlouisfed.org/publication/?pid=82
- Federal Reserve Collections
- Federal Open Market Committee
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