The next FOMC (Federal Open Market Committee) meeting will be on May 6–7, 2025.
The Federal Open Market Committee (FOMC) meets eight scheduled times a year to discuss and set monetary policy, and its decisions have a major impact on financial markets, mortgage rates, and economic growth.
What is the FOMC?
The Federal Open Market Committee (FOMC) is the branch of the Federal Reserve responsible for setting monetary policy for the US. This key decision-making body plays a crucial role in influencing interest rates, money supply, and overall economic stability.
What date is the next FOMC meeting?
The Federal Reserve has scheduled its next FOMC meeting for May 6–7, 2025.
See below for the full list of 2025's scheduled FOMC meetings:
- January 28-29
- March 18-19*
- May 6-7
- June 17-18*
- July 29-30
- September 16-17*
- October 28-29
- December 9-10*
See below for the full list of 2026's scheduled FOMC meetings:
- January 27-28
- March 17-18*
- April 28-29
- June 16-17*
- July 28-29
- September 15-16*
- October 27-28
- December 8-9*
Meetings marked with * are associated with a Summary of Economic Projections.
At the end of each meeting, the FOMC announces its decisions on U.S. interest rates, followed by a press conference led by the Federal Reserve Chair. While these dates are set by the Federal Reserve, they remain tentative until officially confirmed at the preceding meeting.
How often is FOMC meeting?
The FOMC meets eight times per year, approximately every six to eight weeks. These meetings are scheduled in advance and typically span two days. However, in addition to the scheduled meetings, the FOMC can hold unscheduled (emergency) meetings if economic conditions require immediate action.
Who is on the Federal Open Market Committee?
The Federal Open Market Committee is composed of twelve members, each with expertise in economics and monetary policy. The 2025 committee consists of:
- Board of Governors:
- Jerome H. Powell – Chair
- Michael S. Barr
- Michelle W. Bowman
- Lisa D. Cook
- Philip N. Jefferson
- Adriana D. Kugler
- Christopher J. Waller
- Federal Reserve Bank Presidents:
- John C. Williams – New York (Vice Chair)
- Susan M. Collins – Boston
- Austan D. Goolsbee – Chicago
- Alberto G. Musalem – St. Louis
- Jeffrey R. Schmid – Kansas City
- Alternate Members:
- Sushmita Shukla – First Vice President, New York
- Beth M. Hammack – Cleveland
- Patrick T. Harker – Philadelphia
- Lorie K. Logan – Dallas
- Neel Kashkari – Minneapolis
This composition reflects the FOMC's structure of combining the Board of Governors with rotating Federal Reserve Bank presidents to ensure diverse regional representation in monetary policy decisions. For the most current information on FOMC membership, please refer to the Federal Reserve's official website.
What time is the FOMC rate decision?
The FOMC will convene its next meeting over two days: Tuesday, May 6, and Wednesday, May 7, 2025.
While the specific start times of these meetings are not publicly disclosed, it is customary for the FOMC to release its policy statement at 18:00 UTC (14:00 ET) on the second day of the meeting. Following the statement, a press conference led by the Federal Reserve Chair typically occurs at 18:30 UTC (14:30 ET).
What interest rate is FOMC expecting?
As of its March 19, 2025, meeting, the Federal Open Market Committee (FOMC) maintained the federal funds rate at 4.25%–4.50%. Despite this, the FOMC's projections indicate the possibility of two rate cuts within the year, each likely by 0.25 percentage points, potentially bringing the rate down to 3.75%–4.00% by year-end.
These projections accompany a revised economic outlook, with the FOMC lowering its GDP growth forecast for 2025 to 1.7% from the previous 2.1%, and adjusting the inflation projection upward to 2.7%
However, it's important to note that these projections are subject to change, as FOMC members have expressed varying opinions on the necessity and timing of rate cuts, reflecting the inherent uncertainties in economic conditions.
How often does the Fed meet to change interest rates?
The Federal Reserve (via the FOMC) meets eight times per year on a pre-scheduled basis to discuss and potentially adjust interest rates. However, interest rate changes do not occur at every meeting, decisions are based on economic conditions, inflation trends, and employment data.
Will the Fed cut rates this year?
The FOMC has six more meetings scheduled for 2025, with the next one set for May 7th. However, markets anticipate two interest rate cuts throughout the remainder of the year, potentially concentrated in the latter half of 2025. The next rate cut is most likely to occur in June.
What is the Fed's target interest rate?
The current federal funds rate target range is 4.25% – 4.50%.
See more here: When is the next Fed interest rate decision?
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