Monetary Policy
Monetary policy in the United States comprises the Federal Reserve's actions and communications to promote maximum employment, stable prices, and moderate long-term interest rates--the economic goals the Congress has instructed the Federal Reserve to pursue.
Review of Monetary Policy Strategy, Tools, and Communications
In a review conducted over 2019 and 2020, the Fed took a step back to consider whether the U.S. monetary policy framework could be improved to better meet future challenges. Here are the results.
Federal Open Market Committee
Upcoming Dates
January 6 FOMC Minutes
Meeting of Dec. 15-16
Jan. 26-27 FOMC Meeting
Two-day meeting
Press Conference
Mar. 16-17 FOMC Meeting
Two-day meeting
Press Conference
Monetary Policy Principles and Practice
Six short notes on the principles of sound monetary policy and central banks' practices in setting and implementing monetary policy
Reports
Policy Normalization
Monetary Policy Operations and the Balance Sheet
Policy Tools
- Open Market Operations
- Discount Window and Discount Rate
- Reserve Requirements
- Interest on Required Reserve Balances and Excess Balances
- Overnight Reverse Repurchase Agreement Facility
- Term Deposit Facility
- Commercial Paper Funding Facility
- Primary Dealer Credit Facility
- Money Market Mutual Fund Liquidity Facility
- Primary Market Corporate Credit Facility
- Secondary Market Corporate Credit Facility
- Term Asset-Backed Securities Loan Facility
- Paycheck Protection Program Liquidity Facility
- Municipal Liquidity Facility
- Main Street Lending Program
- Central Bank Liquidity Swaps
- Temporary Foreign and International Monetary Authorities (FIMA) Repo Facility
- Expired Policy Tools