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1. What Happens at FOMC Meetings?**

- **Frequency**: The FOMC meets **8 times a year** (approximately every 6 weeks) in Washington, D.C.

- **Participants**:

- 12 voting members: 7 Federal Reserve Board governors + 5 of the 12 regional Fed bank presidents (New York Fed president always votes; others rotate).

- Non-voting presidents attend and contribute to discussions.

- **Key Focus**:

- Assess economic conditions (e.g., inflation, employment, GDP growth).

- Set the **federal funds rate** (the interest rate banks charge each other for overnight loans).

- Decide on other tools like quantitative easing (QE) or tightening (QT).

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### **2. Major Outcomes**

- **Interest Rate Decisions**:

- The FOMC raises rates to combat inflation or lowers them to stimulate growth.

- Example: In 2022–2023, the Fed raised rates aggressively to counter post-pandemic inflation.

- **Forward Guidance**: Clues about future policy (e.g., "higher for longer" rates).

- **Economic Projections**: Released quarterly