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n. High-level development of policy, especially official government policy.

adj. Of, relating to, or involving the making of high-level policy: policymaking committees; policymaking decisions.

n. the formulation of policies.

"Bernanke said Thursday there has been "plenty of disagreement" among the members of the Federal Reserve's main policymaking group, whose power to influence interest rates for all kinds of loans is important to Americans 'pocketbooks."

policymaker   

procyclical    oneeditor/reporter    lame duck    pharmacetical    expansionary