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 January 31, 2018

Projection Materials: PDF | HTML
Released December 13, 2017

Press Conference
December 13, 2017

FOMC Minutes: PDF | HTML
Released January 3, 2018

Upcoming Dates

Jan. 30-31       FOMC Meeting
                        Two-day meeting

Feb. 21            FOMC Minutes 
                        Meeting of Jan. 30-31

March 20-21   FOMC Meeting
                        Two-day meeting
                        Press Conference

April 11           FOMC Minutes
                        Meeting of March 20-21


Monetary Policy Operations
and the Balance Sheet

Last Update: February 5, 2018
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