Monetary policy is the Federal Reserve's actions, as a central bank, to achieve three goals specified by Congress: maximum employment, stable prices, and moderate long-term interest rates in the United States.

The Federal Reserve conducts the nation's monetary policy by managing the level of short-term interest rates and influencing the availability and cost of credit in the economy. Monetary policy directly affects interest rates; it indirectly affects stock prices, wealth, and currency exchange rates. Through these channels, monetary policy influences spending,investment, production, employment, and inflation in the United States.

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Federal Open Market Committee

Recent Documents

FOMC Statement: PDF | HTML
Released June 14, 2017

Projection Materials: PDF | HTML
Released June 14, 2017

Press Conference
June 14, 2017

FOMC Minutes: PDF | HTML
Released July 5, 2017

Upcoming Dates

July 5         FOMC Minutes
                   Meeting of June 13-14, 2017

July 25-26  FOMC meeting
                   Two-day meeting

August 16  FOMC Minutes 
                   Meeting of July 25-26, 2017

Sept. 19-20 FOMC Meeting
                    Two-day meeting
                    Press Conference


Monetary Policy Operations
and the Balance Sheet

Last Update: July 12, 2017
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