The Federal Open Market Committee (FOMC), a committee within the Federal Reserve System (the Fed), is charged under the United States law with overseeing the nation’s open market operations (i.e., the Fed’s buying and selling of United States Treasury securities). This Federal Reserve committee makes key decisions about interest rates and the growth of the United States money supply.
The FOMC is the principal organ of United States national monetary policy. The Committee sets monetary policy by specifying the short-term objective for the Fed’s open market operations, which is usually a target level for the federal funds rate (the rate that commercial banks charge between themselves for overnight loans).
The FOMC also directs operations undertaken by the Federal Reserve System in foreign exchange markets, although any intervention in foreign exchange markets is coordinated with the U.S. Treasury, which has responsibility for formulating U.S. policies regarding the exchange value of the dollar. SOURCE ~Wikipedia.
FOMC Current Board Members
- Janet L Yellen, Chair, Board of Governors
- William C Dudley, Vice Chairman, New York
- Lael Brainard, Board of Governors
- James Bullard, St. Louis
- Stanley Fischer, Board of Governors
- Esther L George, Kansas City
- Loretta J Mester, Cleveland
- Jerome H Powell, Board of Governors
- Eric Rosengren, Boston
- Daniel K Tarullo, Board of Governors
- Charles L Evans, Chicago
- Patrick Harker, Philadelphia
- Robert S Kaplan, Dallas
- Neel Kashkari, Minneapolis
- Michael Strine, New York, First Vice President
Below are the dates for the actual meetings in 2017. You can print them. Please note that you have to confirm your subscription by clicking on the link that is sent to your email soon after you entered your email address and clicked on “Subscribe”. Thank you for stopping by, we are preparing ourselves for all major economic news.