FOMC (Federal Open Market Committee)

Overview

The Federal Reserve's monetary policy committee. Meets 8 times per year to set the federal funds rate target range.

Meeting summary （published 2025-04-09）

At the March 18-19, 2025 meeting, the FOMC held the target range at 4-1/4 to 4-1/2 percent. Almost all members also approved slowing balance sheet runoff, reducing the monthly Treasury redemption cap from $25bn to $5bn effective April 1 while keeping the $35bn agency debt/MBS cap; Governor Waller dissented, preferring to maintain the existing runoff pace. Economic activity continued to expand at a solid pace; the unemployment rate held at 4.1% in February with solid but slightly slower job gains. Inflation remained somewhat elevated (February total PCE 2.5%, core 2.8%), and participants expressed concern that tariff effects could prove more persistent than anticipated. The Committee will carefully assess incoming data and stands ready to adjust policy as appropriate.

Past meetings

Release history (official values)