Monday, January 26, 2015

FOMC Meetings

The Federal Open Market Committee meets eight times a year in order to determine the near-term direction of monetary policy.

The FOMC consists of the seven Governors of the Federal Reserve Board (assuming no seats are vacant) and five Federal Reserve Bank presidents. The New York Fed president is always on the FOMC and the other four seats for the District presidents are rotated yearly. Changes in monetary policy are now announced immediately after FOMC meetings.