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 Minutes: PDF | HTML
Released May 24, 2017

FOMC Statement: PDF | HTML
Released May 3, 2017

Projection Materials: PDF | HTML
Released March 15, 2017

Press Conference
March 15, 2017


Upcoming Dates

May 2-3      FOMC Meeting
                   Two-day meeting

May 24        FOMC Minutes
                    Meeting of May 2-3, 2017

June 13-14  FOMC Meeting 
                    Two-day meeting
                    Press Conference

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

Monetary Policy Operations
and the Balance Sheet

Last Update: May 24, 2017
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