Proper noun
FOMC
Initialism of Federal open market committee.
12 USC § 225a On November 16, 1977, the Federal Reserve Act was amended to require the Board and the FOMC "to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates." Source: Internet
All Regional Reserve Bank presidents contribute to the committee's assessment of the economy and of policy options, but only the five presidents who are then members of the FOMC vote on policy decisions. Source: Internet
"A number of participants in the FOMC did bring up the issue of tariffs," Powell said. Source: Internet
Fed is scheduled to release the July FOMC statement in which the Fed is likely to upgrade the assessment of the labor market. Source: Internet
FOMC characterized inflation its 2% target as symmetric, meaning it would be equally as problematic if inflation lingers too far above or below that level. Source: Internet
As the FOMC reduces the amount of MBS it is purchasing, demand for MBS could go down, which could push mortgage interest rates higher. Source: Internet