Fomc news today
The Federal Open Market Committee (FOMC) is the monetary policy-making body of the Federal Reserve, the central bank of the United States. The FOMC typically meets eight times a year to discuss and set monetary policy.
Here are the latest news and updates from the FOMC:
Latest FOMC Meeting:
The FOMC met on March 15-16, 2023, and announced its decision on interest rates and monetary policy.
Key Takeaways:
- Interest Rates: The FOMC raised the federal funds target rate by 25 basis points (0.25%) to a range of 4.75% to 5.00%.
- Economic Outlook: The committee expects the economy to grow at a moderate pace, with GDP growth projected to be around 2.5% in 2023.
- Inflation: The FOMC expects inflation to remain above its 2% target in the near term, but to decline gradually over the medium term.
- Monetary Policy: The committee indicated that it will continue to monitor economic developments and adjust monetary policy as needed to promote maximum employment and price stability.
FOMC Statement:
The FOMC released a statement following its meeting, which can be found on the Federal Reserve's website. The statement provides a summary of the committee's discussion and decision.
FOMC Members' Views:
The FOMC members also released their individual views on the economy and monetary policy, which can be found on the Federal Reserve's website. These views provide additional insight into the committee's thinking and can help investors and analysts better understand the implications of the FOMC's decision.
Market Reaction:
The FOMC's decision was widely anticipated by markets, and the reaction was relatively muted. The yield on the 10-year Treasury note rose slightly following the announcement, while the dollar index was little changed.
Next FOMC Meeting:
The next FOMC meeting is scheduled for May 3-4, 2023.