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.

Learn more

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
Back to Top