Monetary policy in the United States comprises the Federal Reserve's actions and communications to promote maximum employment, stable prices, and moderate long-term interest rates--the three economic goals the Congress has instructed the Federal Reserve to pursue.

The Federal Reserve conducts the nation's monetary policy by managing the level of short-term interest rates and influencing the overall availability and cost of credit in the economy. Monetary policy directly affects short-term interest rates; it indirectly affects longer-term interest rates, currency exchange rates, and prices of equities and other assets and thus wealth. Through these channels, monetary policy influences household spending, business 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 18, 2019

Projection Materials: PDF | HTML
Released September 18, 2019

Press Conference
September 18, 2019

FOMC Minutes: PDF | HTML
Released August 21, 2019

Upcoming Dates

Oct. 9               FOMC Minutes
                         Meeting of Sept. 17-18

Oct. 29-30        FOMC Meeting
                         Two-day meeting
                         Press Conference

Nov. 20            FOMC Minutes
                         Meeting of Oct. 29-30

Dec. 10-11      FOMC Meeting
                        Two-day meeting
                        Press Conference


Monetary Policy Principles and Practice

Six short notes on the principles of sound monetary policy and central banks' practices in setting and implementing monetary policy

View Notes

Reports

Last Update: September 18, 2019
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