The Federal Reserve FOMC meeting, or the Federal Open Market Committee meeting, is a meeting that determines U.S. monetary policy. The following is a related introduction:

Meeting Composition

- Members: Composed of 12 voting members, including 7 Board members, the President of the New York Fed, and 4 other regional Fed Presidents. The 7 Board members are nominated by the U.S. President and confirmed by the U.S. Senate; the New York Fed President has permanent voting rights; the 4 other regional Fed Presidents are elected in rotation from the 11 regional Fed Presidents excluding the New York Fed President, serving a one-year term.

- Time: Eight regular meetings are held each year in January, March, May, June, July, September, October, and December, generally lasting one to two days.

Meeting Content

Main discussions include the economic operating conditions, financial market risks, and monetary policy decisions, with Fed economists presenting research findings at each meeting. The main task of the meeting is to achieve a balance between economic growth and price stability through the regulation of monetary policy.

2025 Meeting Schedule

- 1st Meeting: January 28 - 29 (already held).

- 2nd Meeting: March 18 - 19 (already held, with an economic outlook afterwards).

- 3rd Meeting: May 6 - 7.

- 4th Meeting: June 17 - 18 (with an economic outlook afterwards).

- 5th Meeting: July 29 - 30.

- 6th Meeting: September 16 - 17 (with an economic outlook afterwards).

- 7th Meeting: October 28 - 29.

- 8th Meeting: December 9 - 10 (with an economic outlook afterwards).

In the March meeting, the Federal Reserve maintained the federal funds rate in the range of 4.25%-4.50%, announced a slowdown in the pace of balance sheet reduction starting in April, and adjusted macroeconomic forecasts, lowering the GDP growth expectation for 2025 from 1.8% to 1.7%, raising the core PCE inflation rate to 2.8%, and increasing the unemployment rate expectation to 4.4%.

Market Impact

The decisions made at FOMC meetings have a significant impact on the financial markets in the U.S. and globally. The adjustments in interest rates, policy statements, and the statements made during the Chair's press conference can all cause fluctuations in the financial markets, affecting the exchange rate of the U.S. dollar, bond yields, stock market trends, and international capital flows.