The term FOMC Meeting refers to the meeting of the Federal Open Market Committee of the Federal Reserve System of the United States.
In English, we can translate it as Federal Open Market Committee Meeting.
What is the FOMC and why are its meetings important?
The FOMC is the body of the Federal Reserve responsible for formulating the monetary policy of the United States. Its decisions have a significant impact on the American and global economy, influencing interest rates, credit availability, and overall financial conditions.
During FOMC meetings, members discuss:
Current and expected economic and financial conditions, both in the U.S. and globally.
The risks to price stability and maximum employment (the so-called "dual mandate" of the Fed).
Possible monetary policy actions to achieve their goals.
Decisions made during FOMC meetings may include:
Adjustments to the federal funds rate.
Changes to future guidelines on monetary policy.
Decisions regarding the buying and selling of government securities in the open market (open market operations).
FOMC meetings occur eight times a year on a pre-defined schedule, but additional meetings may be called if economic conditions require. The decisions from the meeting are announced publicly after its conclusion, and detailed minutes of the meeting are released a few weeks later, providing insights into the discussions and reasoning behind the decisions.
In summary, "FOMC Meeting" means the crucial meeting of the Federal Reserve committee that sets U.S. monetary policy, with broad implications for the economy.
The next FOMC meeting is taking place today and tomorrow, May 6 and 7, 2025. The decision on interest rates will be announced tomorrow, May 7, at 2 PM, Washington D.C. time.