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Executive agency

A department or independent establishment in the executive branch of the U.S. government, such as the Department of Defense or the Department of Energy.

Independent regulatory agency

A federal agency that is not part of an executive department and typically has a degree of independence from the President, such as the Federal Communications Commission (FCC) or the Securities and Exchange Commission (SEC).

Office of Management and Budget (OMB)

A component of the Executive Office of the President that helps the President prepare the budget, oversees the implementation of his policies, and manages federal agencies.

Major acquisition

A large-scale purchase or contract made by a government agency, often involving significant financial resources and long timelines.

Procurement

The process of obtaining goods, services, or works from an outside source for a government agency, typically through a competitive bidding process.

Consumer Price Index (CPI)

A measure that examines the weighted average of prices of a basket of consumer goods and services, used to track inflation and cost of living changes.