FOMC

The Federal Open Market Committee (FOMC) is a group within the U.S. Federal Reserve responsible for setting U.S. monetary policy. Its main role is to influence interest rates and the money supply to promote economic stability, growth, and low inflation. The FOMC meets regularly to decide whether to raise, lower, or keep interest rates steady, which in turn affects borrowing costs for consumers and businesses. These decisions help regulate economic activity, aiming to support maximum employment and stable prices in the economy.