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 2025-12-31）

At the December 9-10, 2025 meeting, the FOMC cut the target range by 25bp to 3.50-3.75 percent, effective December 11. Nine members supported the cut; three dissented—two preferred no change and one preferred a 50bp reduction. Economic activity was expanding at a moderate pace; job gains had slowed over the year and the unemployment rate had edged up to 4.4% by September, with continued softening. Inflation had moved up since earlier in the year and remained somewhat elevated (September total PCE 2.8%), with goods-price increases largely reflecting tariffs. The Committee began purchasing shorter-term Treasury securities to maintain ample reserves and removed aggregate limits on standing repo operations, stressing policy is not on a preset course.

Past meetings

Release history (official values)