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The next FOMC meeting is scheduled to take place Jan. 25 and 26. Brian Cheung is a reporter covering the Fed, economics, and banking for Yahoo Finance. You can follow him on Twitter @bcheungz .
The FOMC left rates unchanged the day after the Bankruptcy of Lehman Brothers. Official Statement: August 5, 2008 2.00% 2.25% 10–1 The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent. Official statement: April 30, 2008 2.00% 2.25% 8–2 The FOMC cut rates by 25 basis points.
Hence, the reserve banks were at times bidding against each other in the open market. In 1922, an informal committee was established to execute purchases and sales. The Banking Act of 1933 formed an official FOMC. [3] The FOMC is the principal organ of United States national monetary policy.
December FOMC meeting recap: Fed cuts rates by another quarter point ... Post-meeting statement released January 31, 2024. Federal Open Market Committee minutes [PDF] released February 21, 2024 ...
The FOMC typically meets about every six weeks, culminating in about eight meetings a year. Broader economic events could, however, prompt the Fed to meet outside of its original schedule.
As a result, about 80% of annual realized excess stock returns since 1994 are accounted for by the pre-FOMC announcement drift". In fact, about half of the realized excess stock market returns between January 1980 and March 2011 were earned during the "pre-FOMC" window whereas there is no evidence of pre-FOMC returns before 1980. [ 4 ]
None of the FOMC members had expected the headline figure to be so low. “Job gains have been solid in recent months, and the unemployment rate has declined substantially,” the FOMC statement ...
Lacker's vote was the solitary dissent in the August, September, October, and December 2006 Federal Open Market Committee (FOMC) meetings. [4] The FOMC decided to keep interest rates steady at 5.25 percent after a series of seventeen consecutive increases of twenty-five basis points each, while Lacker voted for additional tightening.