Federal Open Market Committee (FOMC) Meeting Schedule
The full calendar of scheduled meetings for the FOMC is outlined below. Bear in mind that it is theoretically possible, in extraordinary times, for the Fed to hold extra, emergency meetings on top of this schedule.
The FOMC currently schedule 8 meetings per year, approximately every 6 weeks, to discuss and set monetary policy. Each meeting runs over two days with the decisions and statement published at 14:00 EDT (NYC time) on the 2nd day (normally a Wednesday).
At four of these meetings (typically in March, June, September and December), the FOMC also publish their latest economic forecasts (Summary of Economic Projections or “SEPs”), each member’s projections on the likely path of rates (the “dots”) and schedule a press conference for 14:30 EDT. The FOMC also reserve the right call a press conference after any of the other meetings if required. Many in the market believe that the FOMC are much more likely to change policy, including rates, at a meeting with a press conference than one without, although that is not officially the case.
The Fed observe a blackout period before each FOMC meeting starting at midnight Eastern time at the start of the second Saturday before day 1 of the meeting and ending at midnight Eastern time the day after the meeting.
For example, if the meeting is following the usual 2 day, Tuesday & Wednesday format, the blackout starts at midnight on the morning of the Saturday 10 days before the start of the meeting, and ends at midnight at the end of the Thursday after the meeting. For more details on blackouts, see our central bank blackout summary.
It’s worth remembering that the Fed also hold various other meetings throughout the year, including meetings of the regional Fed presidents to discuss the Discount Rate. The announcement of these meetings sometimes trigger erroneous rumours of emergency Fed meetings due to misunderstandings about the press release.
|Month||Day||Meet Type||Press Conf?|
|Jan/Feb||31st / 1st||Policy Meet|
|March||14th / 15th||Policy Meet||Y|
|May||2nd / 3rd||Policy Meet|
|June||13th / 14th||Policy Meet||Y|
|July||25th / 26th||Policy Meet|
|September||19th / 20th||Policy Meet||Y|
|Oct/Nov||31st / 1st||Policy Meet|
|December||12th / 13th||Policy Meet||Y|