What is the FOMC meeting?

The FOMC meeting is a regular meeting held by the US Federal Open Market Committee (FOMC). The FOMC committee is the arm of the Federal Reserve responsible for formulating U.S. monetary policy. At these meetings, the FOMC Committee will review economic and financial conditions, assess related risks, and determine the next steps for monetary policy to achieve its long-term goals of maintaining price stability and achieving economic growth.

The FOMC holds eight regular meetings each year and may hold extraordinary meetings as needed. The 2023 FOMC meeting schedule is as follows:

• January 31-February 1 (Tuesday-Wednesday)
• March 21-22 (Tuesday-Wednesday)
• May 2-3 (Tuesday-Wednesday)
• June 13-14 (Tuesday-Wednesday)
• July 25-26 (Tuesday) - Wednesday)
• September 19-20 (Tuesday-Wednesday)
• October 31-November 1 (Tuesday-Wednesday)
• 12 Announcements for all FOMC committee meetings on March 12-13 (Tuesday-Wednesday) will be announced at 2 pm ET on the second day of the meeting. Following the announcement, Fed Chairman Jerome Powell will also hold a press conference.

  Why is it important?

  The FOMC meeting is important for finance and cryptocurrencies because it affects the amount and cost of money and credit lines in the U.S. economy, which in turn affects interest rates, foreign exchange rates, asset prices, and inflation for investors and consumers expected.

  The Federal Reserve also expresses its expectations and outlook on the U.S. economic recovery and growth prospects through the FOMC meeting, which has a significant impact on the market sentiment and risk appetite of traders and speculators.

  For example, if the FOMC committee decides to raise interest rates, this could cause the U.S. dollar to strengthen and cryptocurrency prices to fall.