FOMC
Business & Finance abbreviation · Economics
| Stands for | Federal Open Market Committee |
|---|---|
| Categories | Business & Finance |
FOMC stands for Federal Open Market Committee, an economics abbreviation also used in government.
Policymaking body of the US Federal Reserve that sets the target range for the federal funds rate and directs open market operations, including bond purchases and balance-sheet policy. It meets eight times a year in Washington.
Example: The FOMC held rates steady but signaled two cuts before the end of next year.
Usage notes
The committee has 12 voting members: the seven Fed governors, the president of the New York Fed and four of the other eleven regional bank presidents, who rotate. Its statement, quarterly economic projections and the "dot plot" of members' rate forecasts are closely watched. Minutes are released three weeks after each meeting.
Related abbreviations
More economics abbreviations
- DWL – Deadweight loss
- ECB – European Central Bank
- EMU – Economic and Monetary Union
- ERM – Exchange Rate Mechanism
- FDI – Foreign direct investment
- FFR – Federal funds rate
- FPI – Foreign portfolio investment
- FTA – Free trade agreement
- FX – Foreign exchange
- GDI – Gross domestic income
- GDP – Gross domestic product
- GFC – Global financial crisis