$USDC Federal Reserve FOMC meeting, the Federal Open Market Committee meeting, is a key meeting that determines U.S. monetary policy. Here is an introduction to it:

Meeting Composition

The FOMC consists of 12 voting members, including 7 Board members, the President of the New York Fed, and 4 other regional Fed Presidents. The 7 Board members are nominated by the U.S. President and confirmed by the U.S. Senate; the New York Fed President has permanent voting rights; the 4 other regional Fed Presidents are elected from the 11 regional Fed Presidents, excluding the New York Fed President, on a rotating basis for a term of 1 year.

Meeting Schedule

The committee holds eight scheduled meetings each year in January, March, May, June, July, September, October, and December, generally lasting one to two days. Among these, the minutes of the meetings in March, June, September, and December will include a dot plot predicting the federal funds target rate, economic growth rate, inflation rate, and unemployment rate from the 19 participants.

Meeting Content

The main topics discussed include the state of the economy, financial market risks, monetary policy decisions, and economists from the Fed presenting research findings. The meeting particularly focuses on economic growth and inflation, with the monetary policy goal being to seek a balance between economic growth and inflation, based on which the interest rate target range is set.

Recent Meeting Situations

- March 2025 Meeting: On March 19, 2025, U.S. time, the Federal Reserve announced the FOMC meeting statement and economic forecasts. The policy rate was maintained in the range of 4.25%-4.50%, with plans to further slow the balance sheet reduction starting in April, decreasing the pace of Treasury bond reduction from $25 billion per month to $5 billion. The median economic growth forecast for 2025 was significantly revised down from 2.1% to 1.7%, the unemployment rate was revised up from 4.3% to 4.4%, and the median forecasts for PCE and core PCE inflation rates were revised up by 0.2 and 0.3 percentage points to 2.7% and 2.8%, respectively.

- June 2025 Meeting: Scheduled to be held from June 17 to 18, U.S. time. A report from CICC pointed out that this FOMC might slightly raise its inflation forecast, but due to the resilience of non-farm employment and easing tariffs, the Fed's judgment on growth may be more optimistic than in March, and Powell's stance at this meeting may lean hawkish.