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 2025-05-28）

At the May 6-7, 2025 meeting, the FOMC unanimously held the target range at 4-1/4 to 4-1/2 percent. Economic activity continued to expand at a solid pace; real GDP declined slightly in Q1, attributed to front-loaded imports ahead of tariff increases, while private domestic final purchases posted solid gains. The unemployment rate held at 4.2% in March-April with solid job gains and moderating wage growth. Inflation remained somewhat elevated (March total PCE 2.3%, core 2.6%); tariffs were expected to boost near-term inflation substantially before declining toward 2% by 2027. Balance sheet runoff continued under caps of $5bn Treasuries and $35bn agency debt/MBS. The Committee emphasized heightened uncertainty around trade and fiscal policy.

Past meetings

Release history (official values)