FOMC Press Conference LIVE March 20, 2019, at 2:30 pm EDT, with the Fed Chair, following FOMC Meeting associated with a Summary of Economic Projections. Summary: no rate-hikes in 2019, one rate-hike in 2020, and balance sheet normalization ends in September.
See also March 20, 2019 Balance Sheet Normalization Principles and Plans.
|Effective Federal Funds Rate--Above: Jul 1954 - Feb 2019|
The Federal Open Market Committee (FOMC) 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 four of the remaining eleven Reserve Bank presidents, who serve one-year terms on a rotating basis. The rotating seats are filled from the following four groups of Banks, one Bank president from each group: Boston, Philadelphia, and Richmond; Cleveland and Chicago; Atlanta, St. Louis, and Dallas; and Minneapolis, Kansas City, and San Francisco. Nonvoting Reserve Bank presidents attend the meetings of the Committee, participate in the discussions, and contribute to the Committee's assessment of the economy and policy options.
The FOMC holds eight regularly scheduled meetings per year. At these meetings, the Committee reviews economic and financial conditions, determines the appropriate stance of monetary policy, and assesses the risks to its long-run goals of price stability and sustainable economic growth.
2019 FOMC Members:
- Jerome H. Powell, Board of Governors, Chairman
- John C. Williams, New York, Vice Chairman
- Michelle W. Bowman, Board of Governors
- Lael Brainard, Board of Governors
- James Bullard, St. Louis
- Richard H. Clarida, Board of Governors
- Charles L. Evans, Chicago
- Esther L. George, Kansas City
- Randal K. Quarles, Board of Governors
- Eric Rosengren, Boston
- Patrick Harker, Philadelphia
- Robert S. Kaplan, Dallas
- Neel Kashkari, Minneapolis
- Loretta J. Mester, Cleveland
- Michael Strine, First Vice President, New York
|Fed Chairman Powell at FOMC Press Conference January 30, 2019|