FOMC / Rate-Setting Board
Market-economy central banks seat a 7-member rate-setting board (the FOMC in the US; the same board model on other market banks). The chair still proposes policy. The board has to agree. Command economies keep a passive monobank instead. See Central Banks for scrutiny, regimes, and the prime rate's economic effects.
Board#
- 7 seats, chair included. Odd on purpose so majorities are clean.
- Seat 1 is the chair seat.
- Occupants are players, NPP technocrats, or vacant. Vacant seats abstain.
- Terms are 192 turns (4 game years), staggered so the whole board does not open at once.
Meetings#
Meetings open every 8 turns (6 per game year) when the board is due.
The chair proposes hike, cut, or hold, with a signed rate delta (0 for a hold). Player seats get a 24-hour / 24-turn window to ballot. A no-show is an abstain. NPP seats auto-vote from the same Taylor-style rule the autonomous chair uses, tilted hawk or dove.
A motion passes only on a majority of the full seated board. Abstains and vacancies count against it, so the committee is biased toward holding.
Rate-change cap#
Executed hikes and cuts (not holds) are capped at 16 per term. After that the board can still meet and hold.
Rate changes also obey the chair's usual cooldown and size limits; see Central Banks.
Chair selection#
When a chair term expires, the next chair is drawn from characters the executive nominated, not from a wealth leaderboard. The selected player must accept. Refusals re-draw with decliners excluded. Lobbying shifts weights inside that pool.
See also: Central Banks, National Metrics, Currency Exchange.