Federal Open Market Committee
| FOMC Policy | Apr | Mar | Feb | Jan | Dec | Nov | Oct | Sep | Aug | Jul |
June | May |
Apr |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Federal Funds Rate % | 2.0 | 2.25 | 3.0 | 3.5 | 4.25 | 4.5 | 4.5 | 4.75 |
5.25 |
5.25 |
5.25 | 5.25 |
5.25 |
2008 FOMC Federal Meetings & Announcements
| FOMC Schedule | Basis Point |
Funds Rate % |
| May 9, 2007 | 0 |
5.25 |
| June 27/28, 2007 | 0 |
5.25 |
| Aug 7, 2007 | 0 |
5.25 |
| Sept 18, 2007 | -50 |
4.75 |
| Oct 30/31 ,2007 | -25 |
4.5 |
| Dec 11 ,2007*** | -25 |
4.25 |
| Jan 21, 2008*** | -75 |
3.5 |
| Jan 29/30 , 2008 | -50 |
3.0 |
| Mar 10, 2008*** | 0 |
3.0 |
| Mar 18, 2008 | -75 |
2.25 |
| April 29/30, 2008 | -25 |
2.0 |
| June 24/25 , 2008 | ||
| August 5 , 2008 | ||
| September 16 , 2008 | ||
| October 28/29 , 2008 | ||
| December 16 , 2008 | ||
| *** unscheduled fomc meeting |
Federal Open Market Committee has seven Governors of the Federal Reserve Board and five Federal Reserve Bank presidents. The FOMC meets eight times a year in order to determine the near-term direction of monetary policy, but can have unscheduled meetings to change the federal funds rate if the FOMC deems necessary.
There is no economic data that can move the market as much as when the FOMC meets to announce to monetary policy. The speculation leading up to the FOMC meeting becomes an event in itself. The speculation climaxes at the moment the Federal Reserve Board announces the latest FOMC policy. The debate and analysis following the meeting is intense for the next 24 hour news cycle before the financial markets finally come to a point of equilibrium.