Federal Open Market Committee
a.k.a. FOMC, FOMC meeting
The Federal Reserve committee that sets US interest rate policy, meeting eight times a year.
In plain English
The Federal Reserve committee that sets US interest rate policy, meeting eight times a year.
The FOMC has twelve voting members: the seven Fed governors, the New York Fed president and four other regional Fed presidents on a rotating basis. It meets eight times a year on a published schedule.
Each FOMC meeting ends with a statement and a press conference by the Fed Chair; four times a year it also publishes economic projections and the dot plot. Minutes follow three weeks later. Every word gets dissected, and the dollar can whip around in seconds.
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