#FOMCMeeting The Federal Open Market Committee (FOMC) is the Federal Reserve's monetary policymaking body, tasked with setting U.S. interest rates and managing money supply to achieve stable prices and maximum employment. Comprising 12 members—seven from the Board of Governors, the New York Fed president, and four rotating regional Fed presidents—the FOMC meets eight times yearly in Washington, D.C. Meetings involve reviewing economic conditions, discussing forecasts, and voting on policies, primarily adjusting the federal funds rate through open market operations. Decisions, detailed in minutes released three weeks later, significantly impact markets, influencing interest rates, employment, and inflation.