FOMC
The Federal Open Market Committee — the Fed body that sets U.S. monetary policy, meeting eight times per year to vote on the federal funds rate target.
The Federal Open Market Committee (FOMC) is the 12-member policy-setting body of the Federal Reserve. It consists of the seven members of the Board of Governors plus five of the twelve Federal Reserve Bank presidents (NY Fed president votes permanently; others rotate).
The FOMC meets eight times per year and votes on the federal funds rate target range. Decisions, the policy statement, and the Summary of Economic Projections ("dot plot") are released at 2:00 PM ET. The Chair's press conference follows at 2:30 PM.
FOMC days are among the highest-volatility sessions of the year. Markets parse every word of the statement and the dot plot — a shift of even two dots can reprice the entire yield curve. For active traders, positioning ahead of FOMC decisions and managing event risk is a core skill.