Fomc Meeting July 2024

FOMC Meeting Schedule for 2024: What to Expect

Overview

The Federal Open Market Committee (FOMC) is the policy-making body of the Federal Reserve. It meets regularly to set interest rates and conduct monetary policy. The FOMC has announced its tentative meeting schedule for 2024, which includes eight meetings.

Meeting Dates

The FOMC will meet on the following dates in 2024: * January 31 - February 1 * March 20-21 * May 1-2 * June 18-19 * July 31 - August 1 * September 17-18 * October 30-31 * December 10-11

Interest Rate Outlook

The FOMC has raised interest rates 11 times during the 2022-2023 cycle in an effort to slow inflation. However, the FOMC has held rates steady at 5.25-5.50% since July 2023. The FOMC's own interest rate forecasts from June 12 implied that one or two cuts are probable in 2024. It is important to note that these forecasts are subject to change based on economic conditions. The FOMC will continue to monitor inflation and other economic indicators closely and will adjust its policy as necessary.

Economic Outlook

The U.S. economy is facing a number of challenges in 2024, including inflation, rising interest rates, and geopolitical uncertainty. The FOMC will be closely monitoring these factors and will adjust its policy as necessary to support the economy. The FOMC's goal is to maintain price stability and promote maximum employment. The FOMC will continue to use its tools to achieve these goals in 2024.