#FOMCMeeting Meeting of the Federal Open Market Committee (FOMC) is a regular meeting of the committee responsible for setting US monetary policy, specifically the target values for the federal funds rate, which is the basic interest rate for the American economy. The FOMC is part of the Federal Reserve and typically meets eight times a year, although additional meetings can be called if necessary. Decisions made at these meetings, particularly regarding interest rates, have a significant impact on financial markets, affecting everything from exchange rates to bond prices and stock markets.