Federal Open Market Committee-FOMC

FOMC is the branch of the US federal reserve board that determines the direction of monetary policy ( actions of a central bank that determines the size and rate of growth of the money supply). The FOMC comprises of the board of governors which has 7 members and 5 reserve banks presidents. They meet up and hold their meetings 8 times a year to discuss the following:

• whether to increase or decrease money supply, which the Fed does by buying and selling government securities.
• To set key interest rates.

FOMC board members 2016

• Janet L. Yellen          Board of Governors, Chair
• William C.Dudley     New York, Vice Chairman
• Lael Brainard            Board of Governors
• James Bullard           St. Louis
• Stanley Fischer         Board of Governors
• Esther L. George      Kansas City
• Loretta J.Mester      Cleveland
• Jerome H. Powell    Board of Governors
• Eric Rosengren        Boston
• Daniel K. Tarullo     Board of Governors

 Alternate members 

• Charles L. Evens     Chicago
• Patrick Harker        Philadelphia
• Robert S Kaplan     Dallas
• Neel Kashkari         Minneapolis
• Michael Strine        First Vice President, New York

Thank you for stopping by, We are looking forward to the first FOMC later today, trade safe and check out the exact time of the event here.