FOMC rate decision
USD · Eight scheduled meetings a year · Statement at 14:00 ET on the last day of the meeting; the Chair's press conference follows at 14:30 ET. PTM rates it high impact.
What it is
The Federal Open Market Committee sets the target range for the federal funds rate, the overnight rate that anchors US borrowing costs. The decision is published as a statement, with the vote and any dissents.
Four of the eight meetings also publish the Summary of Economic Projections, including the dot plot of each official's rate path. Readers compare the statement's wording with the previous one line by line, then follow the press conference.
Who publishes it
Markets on the board
EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD, NZDUSD, USDCHF, ES, NQ, YM, RTY, ZN, ZB, ZF, GC, SI
Range on release days
- Rates (ZN, ZB, ZF): the NY session has run about x1.6 its normal size on these days (2019–2026).
- FX (EURUSD, GBPUSD, USDJPY, USDCAD): the NY session has run about x1.6 its normal size on these days (2019–2026).
- Metals (GC, SI, HG, PL): the NY session has run about x1.4 its normal size on these days (2019–2026).
- Indices (ES, NQ, YM, RTY): the NY session has run about x1.3 its normal size on these days (2019–2026).
A measured tendency, not a promise. Size only; it says nothing about direction.
Economic News Events, Explained covers this release.
Description and context only. Nothing here is a trade signal.