Federal Open Market Committee

The Federal Open Market Committee (FOMC) is a part of the U.S. Federal Reserve System, responsible for setting monetary policy. It meets regularly to discuss and make decisions about interest rates and money supply to promote economic stability. By adjusting interest rates, the FOMC influences borrowing, spending, and investment, which can help control inflation and foster employment. Essentially, its actions aim to ensure a healthy economy, targeting goals like stable prices and maximum sustainable employment. The FOMC consists of members from the Federal Reserve Board and regional Federal Reserve Banks.