FOMC Meeting Schedule

FOMC Meeting Schedule – The Federal Open Market Committee (FOMC) Meeting Minutes are a detailed record of the committee’s policy-setting meeting held about two weeks earlier. The minutes offer detailed insights regarding the FOMC’s stance on monetary policy, so currency traders carefully examine them for clues regarding the outcome of future interest rate decisions.

FOMC Meeting Schedule

The FOMC holds eight regularly scheduled meetings during the year and other meetings as needed. Links to policy statements and minutes are in the calendars below. The minutes of regularly scheduled meetings are released three weeks after the date of the policy decision. Committee membership changes at the first regularly scheduled meeting of the year.

FOIA

The FOMC makes an annual report pursuant to the Freedom of Information Act. The FOMC FOIA Service Center provides information about the status of FOIA requests and the FOIA process.

FOMC Meeting 2021

January 26-27Statement:
PDF | HTML
Implementation Note
Minutes:
PDF | HTML
(Released February 17, 2021)
March 16-17*Statement:
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Implementation Note
Minutes:
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(Released April 07, 2021)
April 27-28Statement:
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Implementation Note
Minutes:
PDF | HTML
(Released May 19, 2021)
June 15-16*Statement:
PDF | HTML
Implementation Note
Minutes:
PDF | HTML
(Released July 07, 2021)
July 27-28Statement:
PDF | HTML
Implementation Note
Minutes:
PDF | HTML
(Released August 18, 2021)
September 21-22*Statement:
PDF | HTML
Implementation Note
Minutes:
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(Released October 13, 2021)
November 2-3
December 14-15*
  • * Meeting associated with a Summary of Economic Projections.
  • * Data Source – federalreserve.gov

2021 Committee Members

Alternate Members

FAQ

How often does the Federal Reserve collect and publish policymakers economic projections

Economic projections are collected from each member of the Board of Governors and each Federal Reserve Bank president four times a year, in connection with the Federal Open Market Committee’s (FOMC) meetings in March, June, September, and December. All of the charts and tables that summarize those projections are released shortly after the conclusion of the meeting.

What do the policymakers forecast

Each policymaker provides forecasts for economic growth, unemployment, and inflation conditioned on his or her individual assumption of appropriate monetary policy. More specifically, the numbers that they provide for each of the years in their forecast are: the percent change in gross domestic product adjusted for inflation (real GDP), the unemployment rate, the percent change in the price index for personal consumption expenditures (PCE inflation), and the percent change in the price index for PCE excluding food and energy (core PCE inflation). Changes in real GDP and prices are measured from the fourth quarter of one year to the fourth quarter of the next. The unemployment rate is the average civilian unemployment rate in the fourth quarter of a year.

Since January 2012, the economic projections have also included information about policymakers’ projections of appropriate monetary policy. Specifically, the projections include information about policymakers’ projections of the appropriate level of the target federal funds rate–that is, the path that each policymaker judges likely to be most consistent with the Federal Reserve’s statutory mandate to promote maximum employment and stable pricesβ€”at the end of the current year and the next few calendar years, and over the longer run.

About the FOMC

The term “monetary policy” refers to the actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national economic goals. The Federal Reserve Act of 1913 gave the Federal Reserve responsibility for setting monetary policy.

The Federal Reserve controls the three tools of monetary policy–open market operations,Β the discount rate, andΒ reserve requirements. The Board of Governors of the Federal Reserve System is responsible for the discount rate and reserve requirements, and the Federal Open Market Committee is responsible for open market operations. Using the three tools, the Federal Reserve influences the demand for, and supply of, balances that depository institutions hold at Federal Reserve Banks and in this way alters the federal funds rate. The federal funds rate is the interest rate at which depository institutions lend balances at the Federal Reserve to other depository institutions overnight.

Changes in the federal funds rate trigger a chain of events that affect other short-term interest rates, foreign exchange rates, long-term interest rates, the amount of money and credit, and, ultimately, a range of economic variables, including employment, output, and prices of goods and services.