#FOMCMeeting The Federal Open Market Committee (FOMC) is a crucial part of the Federal Reserve System in the United States, responsible for setting the nation's monetary policy. This involves making key decisions about interest rates and the growth of the money supply, with the goals of promoting maximum employment and price stability. +1

Here's a breakdown of what the FOMC meeting entails and its significance:

What is the FOMC?

Composition: The FOMC consists of twelve members:

The seven members of the Board of Governors of the Federal Reserve System.

The president of the Federal Reserve Bank of New York (who serves as Vice Chair).

Four of the remaining eleven Federal Reserve Bank presidents, who serve one-year terms on a rotating basis.