The Federal Open Market Committee, or FOMC, is the Fed's monetary policy committee. It meets eight times a year in Washington (the schedule is on the Fed's Web site) to set the fed funds rate. Announcements of changes in monetary policy are at 2:15 p.m. Eastern Time (on the second day if it's a two-day meeting), and the minutes of the meetings are released within a few days of having been approved by the committee at its subsequent meeting.
Federal Open Market Committee
The policymaking committee of the Federal Reserve Bank. They meet on a regular basis to make decisions on economic policy.
