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 2025-07-09）

At the June 17-18, 2025 meeting, the FOMC unanimously (12-0) held the target range at 4.25-4.50 percent. Economic activity continued to expand at a solid pace, the unemployment rate remained low at 4.2%, and inflation was somewhat elevated (May total PCE 2.3%, core 2.6%) though lower than at the start of the year. Balance sheet runoff continued under $5bn Treasury and $35bn agency debt/MBS caps. Most participants saw rate reductions as potentially appropriate later in the year, though some saw no cuts as likely if inflation stayed elevated. Uncertainty had diminished but remained elevated, mainly reflecting trade policy; upside inflation risks and downside employment risks had both decreased since April.

Past meetings

Release history (official values)