Which statement is not true about the Federal Open Market Committee (FOMC)? Review Later The minutes of each FOMC meeting are published and available to the public "Majority rules" is the voting method used by FOMC The federal funds rate is set by the FOMC and refers to the interest rate that is charged to borrow from the Fed Voting members of the FOMC include seven members of the Board of Governors, the president of the Federal Reserve Board of New York, and four of the remaining eleven Reserve Bank presidents