Federal Open Market Committee

The Federal Open Market Committee consists of twelve members: the seven members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and, for the remaining four memberships, which carry a one-year term, a rotating selection of the presidents of the eleven other Reserve Banks. The FOMC holds eight regularly scheduled meetings per year to direct the conduct of open market operations by the Federal Reserve Bank of New York in a manner designed to foster the long-run objectives of price stability and sustainable economic growth. The FOMC also establishes policy relating to System operations in the foreign exchange markets.

Transcripts | Beige Book | Members

Federal Open Market Committee reports on the Freedom of Information Act

Schedule of Meetings, Statements, Minutes, and Transcripts Meetings: Dates for the eight regularly scheduled meetings held by the FOMC each year are shown in the calendars below. (Dates on which votes were taken between regularly scheduled meetings, typically by telephone conference, are also indicated in the calendars.) Scheduled meetings are usually held on Tuesdays. At the first and fourth meetings of the year, which are scheduled for two-day periods, the FOMC considers the longer-term economic outlook as well as the current conduct of open market operations. Statements: Links to FOMC press releases issued after FOMC meetings and between meetings are in the calendars below. Under a policy announced on January 19, 2000, the FOMC issues, shortly after each of its meetings, a statement that includes its assessment of the risks in the foreseeable future to the attainment of its long-run goals of price stability and sustainable economic growth. Minutes: Links to minutes of FOMC meetings are in the calendars below. The minutes of each meeting are made available within a few days after the next regularly scheduled meeting. For example, the minutes of the first meeting of the year are released within a few days after the second meeting of the year. Transcripts: Procedures adopted by the FOMC provide for the public release of transcripts for an entire year of meetings with a five-year lag.   2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 2001 January 3 Unscheduled Statement Minutes 30/31 Statement Minutes   February March 20 Statement Minutes   April 18 Unscheduled Statement Minutes May 15 Statement Minutes   June 26/27 Statement Minutes   July August 21 Statement Minutes   September 17 Unscheduled Statement Minutes October 2 Statement Minutes   November 6 Statement   December 11   2002 January 29/30   February March 19   April   May 7   June 25/26   July August 13   September 24 October   November 6   December 10   2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996

Current Members of the FOMC

Members
Alan Greenspan, Board of Governors, Chairman
William J. McDonough, New York, Vice Chairman

Roger W. Ferguson, Jr., Board of Governors
Edward M. Gramlich, Board of Governors
Thomas M. Hoenig, Kansas City
Edward W. Kelley, Jr., Board of Governors
Laurence H. Meyer, Board of Governors
Cathy E. Minehan, Boston
Michael H. Moskow, Chicago
William Poole, St. Louis

Alternate Members
Jerry L. Jordan, Cleveland
Robert D. McTeer, Jr., Dallas
Anthony M. Santomero, Philadelphia
Gary H. Stern, Minneapolis
Jamie B. Stewart, Jr., First Vice President, New York