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 2025-11-19）

At the October 28-29, 2025 meeting, the FOMC cut the target range by 25bp to 3.75-4.00 percent and decided to conclude balance sheet runoff on December 1, 2025, moving to reinvestment of principal with priority to Treasury bills. Ten members voted in favor; two dissented—Governor Miran preferred a 50bp cut and President Schmid preferred no change. Economic activity was expanding at a moderate pace; job gains had slowed and the unemployment rate had edged up but remained low through August, with increased but gradual downside employment risks. Inflation had moved up and remained somewhat elevated (core 2.8%), with tariffs contributing to goods prices while longer-term expectations stayed anchored.

Past meetings

Release history (official values)