Forex Videos

The Federal Open Market Committee is better known as the FOMC. This is the committee of individuals that determine the discount rate reserve requirements and open market operations or the monetary policy of the United States.. The FOMC is composed of 12 members with 7 members as Board of Governors and 5 as Reserve Bank Presidents. The FOMC schedules 8 meetings per year. The committee may also hold unscheduled meetings as necessary to review economic and financial developments. The FOMC issues a policy statement following each regular meeting that summarizes the committee's economic outlook and the policy decision. Four times in a year, the Chairman holds press briefing to present the FOMC's current economic projections and to provide additional context for the FOMC's policy decisions. A full set of minutes for each FOMC is published 3 weeks after the conclusion of each regular meeting and complete transcripts of FOMC meetings are published 5 years after that meeting.