FOMC
Also called Federal Open Market Committee, Fed rate meeting
The Federal Reserve body that sets the policy rate; it holds eight scheduled meetings a year.
What does the FOMC announce?
The seven Fed governors, the president of the New York Fed and four rotating Reserve Bank presidents vote. After each meeting the committee announces the federal funds target range and a statement.
The March, June, September and December meetings also publish the Summary of Economic Projections with the dot plot. Minutes follow three weeks after each meeting.
Whalegun's FOMC page shows the path of the target rate, the decision history, the latest dot plot and a Korean summary of the statement, with the days left to the next meeting.
See it on Whalegun
More terms in this area
- Federal funds rateThe rate at which US banks lend each other overnight money; the Fed sets a target range for it, and that range is the US policy rate.
- Dot plotA chart in which each FOMC participant places one dot at the year-end policy rate they think appropriate.
- Consumer Price IndexAn index of the prices urban US consumers pay for goods and services, published monthly by the Bureau of Labor Statistics.
- PCE price indexThe personal consumption expenditures price index, published monthly by the Bureau of Economic Analysis; the Fed's 2% inflation goal is set on it.
- Jobs reportThe Bureau of Labor Statistics report, usually released on the first Friday of the month, with the change in nonfarm payrolls and the unemployment rate.
- US Treasury yieldsThe yields on US government debt, quoted by maturity: the 2-year, the 10-year and others.