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 September 20, 2017

Projection Materials: PDF | HTML
Released September 20, 2017

Press Conference
June 14, 2017

FOMC Minutes: PDF | HTML
Released October 11, 2017

Upcoming Dates

Oct. 11             FOMC Minutes
                         Meeting of Sept. 19-20

Oct. 31-Nov. 1 FOMC meeting
                        Two-day meeting

Nov. 22            FOMC Minutes 
                         Meeting of Oct. 31-Nov. 1

Dec. 12-13       FOMC Meeting
                        Two-day meeting
                        Press Conference


Monetary Policy Operations
and the Balance Sheet

Last Update: October 18, 2017
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