The federal open market committee (fomc) includes the board of governors members and 5 of the 12 presidents of the federal reserve banks, of which, the chairman of the federal reserve board of governors has a permanent voting seat. the board of governors members, 7 of the 12 presidents of the federal reserve banks, and the president of the united states. the board of governors members and 5 of the 12 presidents of the federal reserve banks, of which, the president of the new york fed has a permanent voting seat. the chairman of the federal reserve board of governors and 7 of the 12 presidents of the federal reserve banks, of which, the president of the new york fed has a permanent voting seat.