FESCo is the Fedora Engineering Steering Committee. It is a fully community elected body and represents the technical leadership in Fedora.
FESCo handles the process of accepting new features, the acceptance of new packaging sponsors, Special Interest Groups (SIGs) and SIG Oversight, the packaging process, handling and enforcement of maintainer issues and other technical matters related to the distribution and its construction.
Issues FESCo handles include:
Approval and coordination of "Changes" for Fedora releases
Package maintainer disputes
Larger changes to the Fedora Package collection
Guidance and technical direction for other parts of the project
Setting the schedule for Fedora development cycles
Reviewing and approving technical content from Fedora Working groups
Responsible for what software is offered to end users under what conditions
Oversight and approval of new spins and other media that doesn’t fit under a working group
You can find further information about FESCo, its members, and its policies on the FESCo wiki pages